Sweepstakes, Contests and Lotteries, Oh My! - 2020
Presented by
Andy Zavoina
Recorded on September 29, 2020 — 1 hour
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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:
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:
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.
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Andy Zavoina
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This was absolutely full of great information.
This was absolutely full of great information.
Read LessI liked the explanation of the differences between sweeps, contests and lotteries
I liked the explanation of the differences between sweeps, contests and lotteries
Read LessLots of good info. I would love to see a webinar that goes into specifics about Sweepstakes and contest using Social Media. Or a webinar that deal with rules...
Read MoreLots of good info. I would love to see a webinar that goes into specifics about Sweepstakes and contest using Social Media. Or a webinar that deal with rules for Credit Unions and Contests.
Read Less