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#2260946 - 10/08/21 04:51 PM Charity Sweepstakes
terpsfan Offline
Diamond Poster
Joined: Feb 2007
Posts: 1,989
If a non-profit charity is conducting a raffle and we sponsor this raffle can we advertise it even though it would be a lottery if we were conducting it?

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#2260977 - 10/08/21 09:29 PM Re: Charity Sweepstakes terpsfan
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,546
On the Net
No!

The bank cannot announce, advertise or publicize the existence of any lottery.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#2261058 - 10/13/21 12:26 PM Re: Charity Sweepstakes terpsfan
Adam Witmer Offline
Power Poster
Joined: Sep 2010
Posts: 2,643
If you need a citation on Andy's reply, here is the FDIC's rule on lotteries and related activities: https://www.fdic.gov/regulations/laws/rules/1000-2200.html

A State nonmember insured bank may not--

(1) deal in lottery tickets;
(2) deal in bets used as a means or substitute for participation in a lottery;
(3) announce, advertise, or publicize the existence of any lottery; or
(4) announce, advertise, or publicize the existence or identity of any participant or winner, as such, in a lottery.
_________________________
Adam Witmer, CRCM

All statements are my opinion, not those of my employer, and should not be taken as legal advice.
www.compliancecohort.com

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