Can a bank sponsor a bingo? IMO that is a lottery/gambling and we should not sponsor.

Agree whole heartedly. Might as well start selling lottery tickets too

Lets take the sponsorship out of the equation, can the bank participate without sponsoring? For example, it is open to the public and they are selling a table of 5, can the bank pay for the table and 5 employees participate?

Not sure how a bank can buy a table at a lottery.


SEC. 20. PARTICIPATION BY STATE NONMEMBER INSURED BANKS IN LOTTERIES AND RELATED ACTIVITIES.--

(a) PROHIBITED ACTIVITIES.--A State nonmember insured bank may not--

(1) deal in lottery tickets;
(2) deal in bets used as a means or substitute for participation in a lottery;
(3) announce, advertise, or publicize the existence of any lottery; or
(4) announce, advertise, or publicize the existence or identity of any participant or winner, as such, in a lottery.

(c) DEFINITIONS

As used in this section--

(1) The term "deal in" includes making, taking, buying, selling, redeeming, or collecting.

(2) The term "lottery" includes any arrangement, other than a savings promotion raffle, whereby three or more persons (the "participants") advance money or credit to another in exchange for the possibility or expectation that one or more but not all of the participants (the "winners") will receive by reason of their advances more than the amounts they have advanced, the identity of the winners being determined by any means which includes--

(A) a random selection;
(B) a game, race, or contest; or
(C) any record or tabulation of the result of one or more events in which any participant has no interest except for its bearing upon the possibility that he may become a winner.