Can you refer me to the guidance for assessing the BSA risk for coin operated amusement machines operated in convenience stores who happen to be
a customer of our community bank?
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?
Will we have to notify our customers or members of the inflation-related changes?
If I get a promise to pay two days from now on Wednesday and they don’t show, can I call Thursday morning?
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.?
What are the changes the rule will make to Regulation DD?
Can we do an internal raffle (selling tickets for a chance to win a prize) to benefit a non-profit organization?
Will my bank be affected by the change involving U.S. Pacific Island banks?
Will the $100 next-day availability rule be updated?
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.