Consumer Banking and Payments Law: G.6 Model Stored Value Card Protection Act
[Editor’s Note6]
1. Coverage.
This Act is intended to provide uniform standards, require transparent and fair terms, and simplify the rules governing electronic payments devices which are not comprehensively covered by other federal laws. This Act is a consumer protection act designed to ensure that the use of electronic payment devices facilitates commerce while the interests of consumers are protected. This Act shall be construed liberally to further its purpose to protect consumers.