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Did we Violate Contest Rules

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Question: 
We recently held a fundraiser for a local charity and sold raffle tickets for prizes donated by customers of the bank. All proceeds went to the charity. Are we in violation of the sweepstakes or contest rules?
Answer: 

With the limited information you've given, we believe you're in violation of the prohibitions against dealing in lottery tickets unless you happen to be a credit union. More details would be needed, but the common scenario you ask about would lead to a violation. Credit unions have some variations on these rules, and from our reading, have much more latitude in this area.

First published on BankersOnline.com 9/27/10

First published on 09/27/2010

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