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Debit Card Change In Terms-Before Product Launch

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We are implementing a Visa Gift Card program that starts in October. Of course we have already ordered 50,000 disclosures. The disclosures inform of dormancy fees. The state of Georgia has enacted laws concerning this type of fee. My question is this: We will change the parameters of the program to not charge the dormancy fees. Will we be able to use the disclosure forms we have printed up or do we need to order new forms already?

I don't believe the state issue is of concern except that it is prohibited and disclosed. The removal of the fee is in the customers favor. If state laws on notification differ, you'll need to adjust for that. But I would believe that advance notice is not required. What I would do to provide notice so as to not be confusing or misleading, is to either have a sticker produced that corrects that issue or a one panel addendum. Provide this with the disclosures you have ordered, and correct the next order.

First published on 10/17/05

First published on 10/17/2005

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