We do not believe that federal or Illinois financial privacy laws would prohibit the posting of winner names, since winners are not necessarily bank customers.

Federal and Illinois privacy laws protect “financial records” and “personally identifiable financial information.” These terms are defined broadly, including even the fact that an individual is a customer of your bank. But from what you have told us, both customers and noncustomers may win prizes in the daily drawings. Consequently, posting a winner’s name would not reveal whether that individual is a customer of your bank, and we do not believe that the posting would violate privacy laws.

While not required by privacy law, your bank could disclose to participants that prize winners’ names will be posted as part of the “material terms and conditions” required to be disclosed for all promotional prize giveaways (along with the specific disclosures required by the Illinois Prizes and Gifts Act).

For resources related to our guidance, please see:

• Illinois Banking Act, 215 ILCS 5/48.1(c) (“Except as otherwise provided by this Act, a bank may not disclose to any person, except to the customer or his duly authorized agent, any financial records or financial information obtained from financial records relating to that customer of that bank unless . . . .”)

• Regulation P, 12 CFR 1016.3(q)(2)(i)(C) (“Personally identifiable financial information includes . . . The fact that an individual is or has been one of your customers or has obtained a financial product or service from you . . . .”)

• Consumer Fraud and Deceptive Business Practices Act, 815 ILCS 505/2P (Requires all material terms and conditions to be clearly and conspicuously disclosed.)

• Illinois Prizes and Gifts Act, 815 ILCS 525/25 (Listing nine disclosures that a written promotional prize offer must contain in a clear and conspicuous statement at the outset of the offer.)