(a) A State member 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;
(4) announce, advertise, or publicize the
existence or identity of any participant or winner, as such, in a
lottery.
(b) A State member bank may
not permit—
(1) the use of any part
of any of its banking offices by any person for any purpose forbidden
to the bank under subsection (a), or
(2) direct access by the public from any
of its banking offices to any premises used by any person for any
purpose forbidden to the bank under subsection (a).
(c) 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.
(3) The
term “lottery ticket” includes any right, privilege, or possibility
(and any ticket, receipt, record, or other evidence of any such right,
privilege, or possibility) of becoming a winner in a lottery.
(4) The term “savings promotion
raffle” means a contest in which the sole consideration required for
a chance of winning designated prizes is obtained by the deposit of
a specified amount of money in a savings account or other savings program,
where each ticket or entry has an equal chance of being drawn, such
contest being subject to regulations that may from time to time be
promulgated by the appropriate prudential regulator (as defined in
section 1002 of the Consumer Financial Protection Act of 2010 (12
U.S.C. 5481)).
(d) Nothing contained
in this section prohibits a State member bank from accepting deposits
or cashing or otherwise handling checks or other negotiable instruments,
or performing other lawful banking services for a State operating
a lottery, or for an officer or employee of that State who is charged
with the administration of the lottery.
(e) The
Board of Governors of the Federal Reserve System shall issue such
regulations as may be necessary to the strict enforcement of this
section and the prevention of evasions thereof.
[12 USC 339. As added
by act of Dec. 15, 1967 (81 Stat. 609) effective April 1, 1968. As
amended by act of Dec. 18, 2014 (128 Stat. 2889). Corresponding prohibitions
are contained in section 5136B of the Revised Statutes, section 20
of the Federal Deposit Insurance Act, and section 4 of the Home Owners’
Loan Act with respect to national banks, nonmember insured banks,
and savings associations insured by the Federal Deposit Insurance
Corporation.]
