Reading Room Document

Acceptance of Cash Prize by a Federal Deposit Insurance Corporation Examiner

The document discusses whether a Federal Deposit Insurance Corporation (FDIC) examiner can accept a cash prize from a grocery store affiliated with a bank examined by the official. The examiner won a prize of $1,000 through a random drawing at the grocery store. The conclusion reached is that, based on the facts presented, there is no legal objection to the bank examiner accepting the cash prize. The document also raises the question of whether the cash prize should be considered a "gratuity" within the meaning of the law, and whether the statute should be interpreted expansively to cover the situation presented.

November 17, 1977