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Gift Card Crackdown

by Bee-Shyuan Chang Tue, Nov 17th 2009

Chances are you still have ununsed gift cards stashed in a drawer somewhere -- and the Federal Reserve isn't too happy about it. According to consulting firm TowerGroup, Americans spent $88.4 billion on gift cards in 2008 yet a whopping $6.4 billion went unused. And that's an improvement from the previous year, when $97 billion in gift cards were purchased but $8 billion weren't redeemed, reports the Wall Street Journal. read more

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Saks Employee Arrested for Alleged Gift Card Scam

by Bee-Shyuan Chang Tue, Nov 10th 2009

Saks Fifth Avenue is having financial issues, but surprisingly, the economy is not to blame for this one. Instead, it's looking like employees have been caught stealing from their high-end department store employer. read more