Can we do an internal raffle (selling tickets for a chance to win a prize) to benefit a non-profit organization?
We are trying to develop a Refer-a-friend program. We will offer a $50 bonus" for referring customer and a $50 bonus for the referred customer once the account is opened with direct deposit and they use a debit card a predetermined number of times in 60 days. We have a third party company that tracks referrals and bonuses which is trying to tell me I don't have to 1099 anyone because we're not paying the bonus at account opening - we're paying the bonus for meeting the qualifications of the program. Is a 1099 required for a $50 refer-a-friend bonus?
Why can't we hold a customer or member liable for having the PIN with the card?
Have the October 2019 proposed changes for the Community Bank Leverage Ratio (CBLR) Framework been finalized?
Can we advertise a drawing on social media only?