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Savings Accounts Prizes

Allen Matkins

Author Wagers Prize Linked Savings Accounts Are Not Lotteries

Allen Matkins on

Recently, I wrote about Senator Josh Newman attempt to legalize prize linked savings accounts in California. Senator Newman's bill, SB 1055, would allow a bank or credit union to offer prizes if, among other things...more

Allen Matkins

Is A Prize-Linked Savings Account A Lottery?

Allen Matkins on

In 2014, the United States Congress enacted the American Savings Promotion Act, P.L. 113–251 (DEC. 18, 2014) permitting financial institutions to offer savings accounts, with the added feature of offering chances to win...more

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