Most Popular Compliance Content
Reporting winners to the IRS
07/09/2023
We ran a contest and no prize was over $300. We didn’t need to collect non-public private information from the winners since the prizes were small, did we?
A bake sale by any other name…
07/09/2023
Every year we do a bake sale to raise funds for Breast Cancer Awareness/Local Hospital Foundation. Is this acceptable?
Lobby Advertising
07/09/2023
We often have lobby posters advertising products, services, benefits like trips on a discounted price and others things on display so staff can answer questions on these and to promote these items. Do they require the general FDIC advertising statement>
Lottery Exceptions
07/02/2023
Now that banks can participate in lotteries, can we facilitate raffles unrelated to the bank for local service groups- post lobby posters or sell tickets for or be a sponsor, etc.?
Holding Stock - Original or Copy
07/02/2023
Is there a regulation/law for Trust Departments holding common stock certificate's for clients where it must be the physical copy or is a digital scanned copy acceptable to have on file to verify?