$11M In Unused Gift Card Funds Turned Over To NY Last Year

ALBANY, N.Y. (AP) — State Comptroller Thomas DiNapoli is warning New Yorkers to "read the fine print" when it comes to buying gift cards this holiday season.

DiNapoli says unused funds from gift cards issued by New York businesses are regularly turned over to the state as abandoned property. Last year he says his office took in $11 million in unused gift card funds.

He urged consumers this week to be on the lookout for expiration dates and fees that come with some cards.

A federal law regulates what types of fees can be imposed on gift cards and prohibits expiration dates of that are within five years of the card's purchase.

[STORY BY: THE ASSOCIATED PRESS]