Fed reading the fine print on gift cards

The Federal Reserve this week proposed rules that would protect gift-card users from exorbitant fees and other restrictions. A move aimed at protecting the 95% of Americans the Fed says use them.

"Concerns have been raised regarding the amount of fees associated with gift cards, the expiration dates of gift cards and the adequacy of disclosures," the Fed said. "Consumers who do not use the value of the card within a short period of time may be surprised to find that the card has expired or that dormancy or service fees have reduced the value of the card."