If you have unused H&M gift cards you could be getting some money back too.
A pedestrian carries a Hennes & Mauritz shopping bag in the SoHo neighborhood of New York, U.S., on Sunday, Oct. 24, 2021. A person who alerted New York officials that retailer H&M was wrongfully keeping unused funds from gift cards is getting a big payout as part of a settlement.
Authorities say that H&M falsely claimed that an out-of-state company was handling its gift cards business and concealed its failure to comply with the law. After five years of inactivity, New York law requires gift card issuers to turn over unused balances on gift cards to the state’s Abandoned Property Fund, which is overseen by DiNapoli’s office.
The OAG’s investigation found that H&M knew that it was required to transfer millions of dollars in unredeemed gift card balances to the Abandoned Property Fund but did not do so for years.
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