Lottery Exceptions

Question:

Now that banks can participate in lotteries, can we facilitate raffles unrelated to the bank for local service groups, posting lobby posters or selling tickets for or be a sponsor, etc.?

Answer:

The American Savings Promotion Act has carved some exceptions into the rules prohibiting participation in a lottery. These are limited and do not expand to causes outside the bank.

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Learn more about John Burnett’s Sweepstakes, Contests and Lotteries: What is Allowed? webinar.