Distributors Beat Suit Over Visa, MasterCard Gift Cards

Law360, Washington (August 17, 2012, 7:50 PM EDT) -- A New York federal judge on Friday threw out a putative class action that alleged several distributors of Visa Inc. and MasterCard Inc. gift cards violated state contracts laws because customers couldn't fully deplete their cards with some merchants, saying users weren't harmed by the policy.

Stephanie Rose Preira sued The Bancorp Bank, Interactive Communications International Inc., ITC Financial Licenses Inc. and IH Financial Licenses Inc. in March 2011, alleging that the companies had rendered millions of dollars in Vanilla Visa and Vanilla MasterCard gift cards...
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