What are the penalties if a seller or issuer of prepaid purchase cards doesn’t comply with the requirements regarding expiry dates, providing of information, or fee limits?
The Consumer Protection Act provides for the ability to impose administrative penalties, ranging from $1,000.00 to $5,000.00, for failure to comply with expiry date requirements, providing of information requirements, and the limit on fee requirements. It also allows for the ability to prosecute in some circumstances.
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