The Federal Reserve, like a knight in shining armor, is riding forth to protect consumers from a fearsome dragon: gift cards that expire within five years from date of purchase.

If retailers are not informing customers about the terms and expiration dates of the cards, I can understand a regulation like, “Gift cards must state expiration date and applicable fees.” I have no idea where the five-year rule comes from, though, or why retailers should have to conform to it. It sounds like somebody’s fairy tale fantasy of what gift cards should be: No gift card shall turn into a pumpkin before the stroke of midnight.

While the Federal Reserve is granting people’s wishes, I hope they will let Prince Charming know that I can be reached at sarah.brodsky@showmeinstitute.com.