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Course description

Have you ever heard something like this in the breakroom? “That compliance officer is such an @##, we were trying to raise money for a charity and he said ‘No.’” Compliance isn’t saying “No” to raising money for charity but IS trying to protect the bank from liability if it were to break the law – even for a good cause.  Sometimes what sounds like a good idea to raise funds for a charity or bring in new deposits involves a sweepstakes, a contest, or a lottery. What’s the difference? There are differences, and you need to know what they are, to protect the bank as marketing, compliance and management brainstorm ideas to build the deposit portfolio and be a good corporate citizen:

  • Is the American Savings Promotion Act going to allow a lottery for marketing?
  • Your marketing department will have suggestions, but compliance needs to know how to make those ideas work to stay out of trouble. 
  • Should you consider a contest or a drawing? 
  • Maybe a sweepstakes or lottery will entice them? 
  • You could easily get the word out on social media, so what’s the big deal? 
  • Why not build interest in the bank and ensure employee support with a contest for them? 
  • Are the rules different for an employee-only raffle that is used to build excitement and sales?


Consider this scenario: To attract new customers to a newly opened branch, marketing has proposed to have every new account entered into a drawing for a fabulous vacation trip. For the first time, the bank will also advertise on Facebook and Twitter to get the word out and to get feedback from new customers. They'll be like testimonials. And the compliance officer will be pulled in six different directions trying to keep things under control. Do you know what needs to be done?

Attend this BOL Learning Connect webinar to find out about:

  • How state and federal rules affect promotional sweepstakes and other contests including the new, underutilized American Savings Promotion Act
  • How far your bank can go with lotteries
  • IRS reporting requirements for winning customers.


The rules are complex. You can't get away with just anything someone dreams up. Your advertisements are viewed daily by customers, lawyers, your competition, and even regulators. This program is designed for anyone involved in the planning, execution, and review of contests, sweepstakes, and many fund-raising activities that only serve a good purpose.

Find out how to help your marketing department craft campaigns that accomplish their goals without violating the rules.

 

WHO SHOULD ATTEND:

Compliance, auditors, marketing, social media specialists and anyone managing contests/raffles at the bank or branch level.

 

 

 

Instructor(s)

Andy Zavoina

Mr. Andy Zavoina, CRCM, is an Executive Vice President with the Glia Group, Inc., best known for its involvement with BankersOnline.com. He joined Glia and BOL in 2003. Mr. Zavoina has been in finance and banking for over 42 years. Over 20 years were with a two-bank holding company that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He has done loan workouts, has been a consumer, commercial and real estate lender and managed those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks. Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee. He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written articles and lectured on compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations across the U.S. and teaches basic compliance and compliance management. You can reach Andy on the Internet by using his e-mail address, [email protected], or visiting http://www.bankersonline.com.

Course curriculum

  • 1

    Webinar

    • Access Webinar
  • 2

    Materials

    • Slides

    • Questions and Answers

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