H. R. 3374 
One Hundred Thirteenth Congress 
of the 
United States of America 
AT THE SECOND SESSION 
Begun and held at the City of Washington on Friday, 
the third day of January, two thousand and fourteen 
An Act 
To provide for the use of savings promotion raffle products by financial institutions 
to encourage savings, and for other purposes. 
Be it enacted by the Senate and House of Representatives of 
the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘American Savings Promotion 
Act’’. 
SEC. 2. FINDINGS. 
Congress finds that— 
(1) the annual savings rate in the United States was 4.1 
percent in 2012; 
(2) more than 40 percent of American households lack 
the savings to cover basic expenses for 3 months, if an unex-
pected event leads to a loss of stable income; 
(3) personal savings provide Americans with the financial 
resources to meet future needs, including higher education 
and homeownership, while also providing a safety net to 
weather unexpected financial shocks; 
(4) prize-linked savings products are typical savings prod-
ucts offered by financial institutions, like savings accounts, 
certificates of deposit, and savings bonds, with the added fea-
ture of offering chances to win prizes based on deposit activity; 
(5) the State of Michigan was the first State to allow 
credit unions to offer prize-linked savings products, and in 
2009 launched the first large-scale prize-linked savings product 
in the United States; 
(6) the States of Connecticut, Michigan, Maine, Maryland, 
Nebraska, North Carolina, Rhode Island, and Washington all 
have laws that allow financial institutions to offer prize-linked 
savings products; 
(7) in the States of Michigan and Nebraska, more than 
42,000 individuals have opened prize-linked savings accounts 
and saved more than $72,000,000; 
(8) prize-linked savings products have been shown to 
successfully attract non-savers, the asset poor, and low-to-mod-
erate income groups, providing individuals with a new tool 
to build personal savings; and 
(9) encouraging personal savings is in the national interest 
of the United States.
H. R. 3374—2 
SEC. 3. AMENDMENT TO DEFINITIONS OF ‘‘LOTTERY’’. 
(a) NATIONAL BANKS.—Section 5136B(c) of the Revised Statutes 
of the United States (12 U.S.C. 25a(c)) is amended— 
(1) in paragraph (2), by inserting ‘‘, other than a savings 
promotion raffle,’’ before ‘‘whereby’’; and 
(2) by adding at the end the following: 
‘‘(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 Protec-
tion Act of 2010 (12 U.S.C. 5481)).’’. 
(b) FEDERAL RESERVE BANKS.—Section 9A(c) of the Federal 
Reserve Act (12 U.S.C. 339(c)) is amended— 
(1) in paragraph (2), by inserting ‘‘, other than a savings 
promotion raffle,’’ before ‘‘whereby’’; and 
(2) by adding at the end the following: 
‘‘(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 Protec-
tion Act of 2010 (12 U.S.C. 5481)).’’. 
(c) INSURED DEPOSITORY INSTITUTIONS.—Section 20(c) of the 
Federal Deposit Insurance Act (12 U.S.C. 1829a(c)) is amended— 
(1) in paragraph (2), by inserting ‘‘, other than a savings 
promotion raffle,’’ before ‘‘whereby’’; and 
(2) by adding at the end the following: 
‘‘(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 Protec-
tion Act of 2010 (12 U.S.C. 5481)).’’. 
(d) FEDERAL SAVINGS AND LOAN ASSOCIATIONS.—Section 4(e)(3) 
of the Home Owners’ Loan Act (12 U.S.C. 1463(e)(3)) is amended— 
(1) in subparagraph (B), by inserting ‘‘, other than a savings 
promotion raffle,’’ after ‘‘arrangement’’; and 
(2) by adding at the end the following: 
‘‘(D) SAVINGS PROMOTION RAFFLE.—The term ‘savings 
promotion raffle’ means a contest in which the sole consid-
eration 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
H. R. 3374—3 
to time be promulgated by the appropriate prudential regu-
lator (as defined in section 1002 of the Consumer Financial 
Protection Act of 2010 (12 U.S.C. 5481)).’’. 
SEC. 4. CRIMINAL PROVISIONS. 
(a) IN GENERAL.—Chapter 61 of title 18, United States Code, 
is amended by adding at the end the following: 
‘‘§ 1308. Limitation of applicability 
‘‘(a) LIMITATION OF APPLICABILITY.—Sections 1301, 1302, 1303, 
1304, and 1306 shall not apply— 
‘‘(1) to a savings promotion raffle conducted by an insured 
depository institution or an insured credit union; or 
‘‘(2) to any activity conducted in connection with any such 
savings promotion raffle, including, without limitation, to the— 
‘‘(A) transmission of any advertisement, list of prizes, 
or other information concerning the savings promotion 
raffle; 
‘‘(B) offering, facilitation, and acceptance of deposits, 
withdrawals, or other transactions in connection with the 
savings promotion raffle; 
‘‘(C) transmission of any information relating to the 
savings promotion raffle, including account balance and 
transaction information; and 
‘‘(D) deposit or transmission of prizes awarded in the 
savings promotion raffle as well as notification or publica-
tion thereof. 
‘‘(b) DEFINITIONS.—In this section— 
‘‘(1) the term ‘insured credit union’ shall have the meaning 
given the term in section 101 of the Federal Credit Union 
Act (12 U.S.C. 1752); 
‘‘(2) the term ‘insured depository institution’ shall have 
the meaning given the term in section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813); and 
‘‘(3) 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 Protec-
tion Act of 2010 (12 U.S.C. 5481)).’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.—The table of 
sections for chapter 61 of title 18, United States Code, is amended 
by adding after the item relating to section 1307 the following: 
‘‘1308. Limitation of applicability.’’. 
SEC. 5. RACKETEERING. 
Chapter 95 of title 18, United States Code, is amended— 
(1) in section 1952, by adding at the end the following: 
‘‘(e)(1) This section shall not apply to a savings promotion 
raffle conducted by an insured depository institution or an insured 
credit union. 
‘‘(2) In this subsection—
H. R. 3374—4 
‘‘(A) the term ‘insured credit union’ shall have the meaning 
given the term in section 101 of the Federal Credit Union 
Act (12 U.S.C. 1752); 
‘‘(B) the term ‘insured depository institution’ shall have 
the meaning given the term in section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813); and 
‘‘(C) 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 Protec-
tion Act of 2010 (12 U.S.C. 5481)).’’; 
(2) in section 1953— 
(A) in subsection (b), by striking ‘‘or (5)’’ and inserting 
‘‘(5) equipment, tickets, or materials used or designed for 
use in a savings promotion raffle operated by an insured 
depository institution or an insured credit union, or (6)’’; 
and 
(B) by striking subsections (d) and (e) and inserting 
the following: 
‘‘(d) For purposes of this section— 
‘‘(1) the term ‘foreign country’ means any empire, country, 
dominion, colony, or protectorate, or any subdivision thereof 
(other than the United States, its territories or possessions); 
‘‘(2) the term ‘insured credit union’ shall have the meaning 
given the term in section 101 of the Federal Credit Union 
Act (12 U.S.C. 1752); 
‘‘(3) the term ‘insured depository institution’ shall have 
the meaning given the term in section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813); 
‘‘(4) the term ‘lottery’— 
‘‘(A) means the pooling of proceeds derived from the 
sale of tickets or chances and allotting those proceeds or 
parts thereof by chance to one or more chance takers or 
ticket purchasers; and 
‘‘(B) does not include the placing or accepting of bets 
or wagers on sporting events or contests; 
‘‘(5) 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 Protec-
tion Act of 2010 (12 U.S.C. 5481)); and 
‘‘(6) the term ‘State’ means a State of the United States, 
the District of Columbia, the Commonwealth of Puerto Rico, 
or any territory or possession of the United States.’’; and 
(3) in section 1955— 
(A) in subsection (b)— 
(i) by redesignating paragraph (2) as paragraph 
(4);
H. R. 3374—5 
(ii) by redesignating paragraph (3) as paragraph 
(6); 
(iii) by inserting after paragraph (1) the following: 
‘‘(2) ‘insured credit union’ shall have the meaning given 
the term in section 101 of the Federal Credit Union Act (12 
U.S.C. 1752). 
‘‘(3) ‘insured depository institution’ shall have the meaning 
given the term in section 3 of the Federal Deposit Insurance 
Act (12 U.S.C. 1813).’’; and 
(iv) by inserting after paragraph (4), as redesig-
nated, the following: 
‘‘(5) ‘savings promotion raffle’ means a contest in which 
the sole consideration required for a chance of winning des-
ignated 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 Protec-
tion Act of 2010 (12 U.S.C. 5481)).’’; and 
(B) in subsection (e)— 
(i) by striking ‘‘shall not apply to any bingo’’ and 
inserting the following: ‘‘shall not apply to— 
‘‘(1) any bingo’’; 
(ii) by striking the period and inserting ‘‘; or’’; 
and 
(iii) by adding at the end the following: 
‘‘(2) any savings promotion raffle.’’. 
Speaker of the House of Representatives. 
Vice President of the United States and
President of the Senate.