In December 2024, New York Attorney General Letitia James reached a nearly $4.4 million settlement with Card Compliant LLC, the company that managed H&M’s gift card program.

This followed allegations that the firm helped H&M unlawfully retain unredeemed gift card balances instead of transferring them to New York’s Abandoned Property Fund, as required by state law.

This outcome connected back to a 2022 agreement where H&M itself had paid $36 million to settle claims that it illegally kept unused gift card funds between 2004 and 2014.