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10 Things You May Not Have Known About Promotion Marketing

The following advisory was authored by Verrill Dana Partner Robert Laplaca, Chair of the Firm's Promotion Law practice.

  1. Practically every type of promotional activity is regulated in some way:
    1. Sweepstakes and contests;
    2. User generated content on websites and social media;
    3. Coupons, gift cards and money-back guarantees;
    4. Charitable solicitations;
    5. Celebrity endorsements or other testimonials;
    6. Marketing to children; and
    7. Even trying to give something away for “free”
  2. You need official rules for every sweepstakes and contest you conduct.  They form a binding contract with the entrants that will help protect you in the event of a dispute.

    EXAMPLE: When Kraft mistakenly produced too many winning game pieces for its “Ready to Roll” sweepstakes, they were protected by having a clause in the rules stating they were not liable for printing or production errors.

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Financial Institutions . . . In the News

  • Gorham Savings Bank President Chris Emmons appointed to FDIC Advisory Committee on Community Banking.  (Dodd Frank Update 2.20.2015)
  • Conversation with Peter Judkins, President and CEO of Franklin Savings Bank, recently appointed to the Federal Reserve Bank of Boston.  (PPH 2.11.2015)
  • Co-Branded credit cards leave little profit margin for banks.  (BDN 2.13-2015)
  • Hackers using malware sent to employees to gain access to bank’s computers.  (New York Times 2.14.2015)
  • Slow electronic payments causes some consumers high overdraft fees.  (MPBN 2.18.2015)
  • Americans debt increased in final three months of 2014.  (News Maine 2.18.2015)
  • Careful consideration is necessary before applying for a reverse mortgage.   (Keep Me Current 2.18.2015)

Financial Institutions . . . In the News

  • Beginning January 2015, Bob Quentin became President of Saco & Biddeford Savings Institution.  CEO Kevin Savage will retire in May 2017.  (Mainebiz 1.22.2015)
  • Mobile banking redefines traditional banking needs.  (New York Post 1.25.2015)
  • New Hampshire state Banking Department and the FDIC are reviewing Bedford, NH’s Primary Bank’s applications to form a new bank.   (NHBR 1.23.2015)
  • Scammers posing as IRS trick Mainers to send money.  (Sun Journal 1.27.2015)
  • A holding company formed by Mechanics Savings and Biddeford Savings seeking approval from regulatory agencies.  (PPH 2.4.2015)
  • Attorney General Janet Mills announces that Maine will receive $21.5 million from Standard & Poor in settlement for unfair and deceptive trade practices.  (BDN 1.4.2015)

Financial Institutions...In the News

  • Debit card fees dispute between retailers and Federal Reserve will not be heard by Supreme Court.  (Central Maine 1.20.2015)
  • President Obama proposes new tax on big banks to discourage high risks.  (Maine News Simply 1.20.15)
  • Maine’s economic forecast is positive but must look to immigrants and urban areas to sustain future growth according to USM Economist Charlie Colgan.  (The Free Press 1.15.2015)
  • RealtyTrac, a real estate data firm, reports foreclosure rates dropped in 2014   (News Maine 1.15.2015)
  • Credit unions ask Congress for a Data Breach Working Group to help prevent data breaches.  (The Hill 1.15.2015)
  • Dividends from U.S. Banks remain low in 2015.  (The West Austrailian  1.13.2015)
  • The markets in the U.S. have improved to make U.S. the leading the global economy.  (PPH 1.13.2015)
  • A national gang, “Felony Lane Gang,” is stealing checks and personal information from cars parked in parking lots in Maine.  (BDN 1.14.2015)
  • New mortgage calculation tools launched by Consumer Financial Protection Bureau.  (MPBN 1.13.2015)