We will have a booth at a local home show and my Marketing department is looking at doing a drawing with a gift card giveaway ($100). Drawing will be open to all, no restrictions, need not be present to win. I believe we are safe under the lottery restrictions but I have a concern with what marketing will be doing with the information on the forms. They want to keep it to market to the individuals that entered at a later date. Are my concerns justified? Since marketing will be keeping the information will this be considered a thing of value (information) for the chance to enter and thus triggering the lottery restrictions?

Where would I look for regulation and/or guidance wise to do some reading on this topic. We are FDIC regulated if that matters. For years we didn't market at all but that is changing and we recently hired a person to head our marketing efforts so I am a little green on my knowledge of marketing.

Thank you for any help you can give.

Well, I hope that your legal department has drafted the proper disclosure language into the entry form telling them that by entering they agree that the bank may contact them later regarding product offerings. Especially if any of this is going to be by telephone and includes a proper opt. Other than that, you are going to have to pay close attention to your State's sweepstakes laws.

This is not past the idea phase currently. I am just trying to determine what research I need to do, what I need to take into consideration to either give the green light to continue this idea past the idea phase or to stop it before we put to much time into something that will not be doable.

What I am gathering from you is we need to run this past legal for any disclosures on retaining and using their information at a later point.

We are currently looking into our states laws but so far have not seen any red flags that would make us say stop in those yet.

Other than the rules on lotteries at a federal level is their any other laws or regulations I have missed and not taken into account?