Ohio exempts Visa and Mastercard from new gift card law
However, the law has seven exemptions to these prohibitions. Number six exempts "a gift card that is usable with multiple, unaffiliated sellers of goods or services." In essence, those typically issued by Visa and Mastercard.
Sheryl Harris, a Cleveland Plain Dealer columnist, says don't blame the Bill's sponsor, Sen. Bob Spada (R).
Spada introduced a spare bill with few exceptions and then for two years fought off gift-card issuers' attempts to kill it.
But the exemption was inserted after the bill moved to the House and is contained in the final version.
Hopefully, as Ms. Harris concludes, "when the Ohio legislature becomes more interested in looking out for consumers than for special interests, it will polish this law into the bill Spada envisioned."