Leawood, Kan. – June 24, 2020: On June 24, 2020, the Delaware Supreme Court rendered a decision in the case Overstock.com, Inc. v. Delaware. The Court reversed the lower court decision that permitted the use of False Claims Act to collected escheat on behalf of a State. While the holding is narrow, the decision is viewed as a positive development for the closed loop gift card industry.
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The Compliance Libraries provide a one stop location for comprehensive information on the laws, rules and standards regulating gift cards. Its features include the Regulatory Watch Center which tracks and releases information on new laws, rules and standards. For more visit www.compliancelibraries.com.