We ran a contest and no prize was over $300. We didn’t need to collect non-public private information from the winners since the prizes were small, did we?
Every year we do a bake sale to raise funds for Breast Cancer Awareness/Local Hospital Foundation. Is this acceptable?
Now that banks can participate in lotteries, can we facilitate raffles unrelated to the bank for local service groups- post lobby posters or sell tickets for or be a sponsor, etc.?
Can we do an internal raffle (selling tickets for a chance to win a prize) to benefit a non-profit organization?
Can we advertise a drawing on social media only?
We have a “spin the wheel” promotion. To spin, a customer must donate $1 that the bank donates to a charity. All the prize amounts on the wheel are more than $1 therefore all customers will get more than they donate. The amount won is then sent to the customer via our e-wallet app. We set a certain number of spins and it is done on a first-come-first-served basis.
What is the “one-click away” rule for electronic advertisements?
Is following the standard Regs, B, Z, DD and fair housing going to ensure advertising compliance?
We had the 6 points of information for an application but lost track of the request and took too long to deny it as we were awaiting additional income information from the applicant. What can we do now?
Most restaurants offer senior discounts now at about age 55 and so we want our Seniors Checking account product to be available at age 55. Our compliance officer said it violated Reg B, but then left the bank. This isn’t a loan product, so what gives?