Tag Archives: FFIEC
Credit unions have a unique position when it comes to social media. Unlike banks, which are opened to everyone, credit unions have a specific customer base. Members have to be affiliated with certain groups, such as an employer, community, or school. With the smaller, more targeted pool of members and potential members, social media can […]
In 2012 Gene Morphis, the former CFO of Francesca’s Collections, revealed sensitive company information on his Twitter account in advance of the company’s annual report to the SEC. It was later revealed that the CFO had often communicated inappropriate company information on social media, which led to his termination from the company.
It’s December, which means it’s time for the obligatory year in review post! What a year it has been. From Facebook’s seemingly constant newsfeed changes to the financial industry attempting to make its peace with social media through new compliance regulations, it has been an exciting time in digital marketing. Here are our picks for […]
A recent report shared that 173 million Americans own smart phones, and CNN reported that mobile apps overtook desktop usage for the first time ever in February 2014. While mobile adoption rates continue to grow amongst consumers, a recent study by Capgemini found that financial institutions are relatively slow to adopt mobile banking capabilities – […]
Banks and financial institutions face a number of challenges when it comes to digital marketing, particularly with social media. Compliance and privacy issues pose unique challenges for financial marketers who recognize the benefits of having an online presence, but are beholden to guidance from the FFIEC, FINRA, and SEC. Still, some banks and credit unions […]
December 2013 – UPDATE: Nearly one year after putting out a proposed guidance on social media use for financial institutions, the FFIEC issued “Social Media: Consumer Compliance Risk Management Guidance.” This guidance has been adopted by FFIEC member organizations, including the Office of the Comptroller of the Currency (OCC), Board of Governors of the […]
In one corner, there’s employee protection. In the other, securities regulation concerns. In the battle of security, what’s more important: employee privacy or industry regulation? As the number of U.S. states passing social media legislation to protect employee rights increases, so does the pushback from regulatory bodies. In cases where your social media profile is […]