Gifts to Top Loan Customers

Answered by:

Question:

Are we in violation of any regulation if the bank purchases fruit baskets from the local FFA chapter and gives them as gifts to our top loan customers at the end of the year?

Answer:

There would be no such restrictions as long as it was related to their relationship with the bank and not for the referral of business that would be subject to RESPA.

First published on BankersOnline.com 1/05/09