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Does the Consumer Financial Protection Bureau’s (CFPB) 2010 gift card regulation apply to all prepaid cards?

No. In general, the 2010 rule applies only to gift cards and to cards that are marketed as gift cards.

There are exceptions to the rule.

The CFPB's gift card rule does not apply to cards, codes, or other devices that are

  • useable solely for telephone services,
  • reloadable and not marketed or labeled as a gift card or gift certificate,
  • loyalty, award or promotional gift cards,
  • not marketed to the general public,
  • issued in paper form only, or
  • redeemable solely for admission to events.

Refer to 12 CFR 1005 "Electronic Funds Transfer (Regulation E)."

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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