Updated Social Media Guidance from the FFIEC: Is Your Bank Still Compliant?

Posted by Emily Lange Rodecker on December 19, 2013

December 2013 – UPDATE:  

Nearly one year after putting out a proposed guidance on social media use for financial institutions, the Federal Financial Institutions Examination Council (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 Federal Reserve System (Federal Reserve Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), the Consumer Financial Protection Bureau (CFPB) (collectively, the Agencies), and the State Liaison Committee (SLC).

These regulatory bodies overseeing financial institutions recognize the importance social media plays in marketing, customer service and audience engagement – but stress the importance of banks, credit unions and savings institutions to remain compliant while participating.

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Topics: Board, Business, CFPB, Compliance, compliance regulationss, consumer compliance, FDIC, FFIEC, NCUA, OCC, risk management, SLC, social media, social media banking, social media compliance, Social Media for Banking, social media regulations

The Main Event: Social Media Privacy Laws vs. Financial Industry Regulation

Posted by Emily Lange Rodecker on May 22, 2013

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 public, the gloves are off. Your employer has the right to view your posts – as does everyone else in the world (you know, being public and all).

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Topics: Business, compliance, Compliance, employee privacy, FFIEC, internet privacy, legislation, regulatory bodies, secure social media, social media, social media compliance, social media legislation, social media privacy

The SEC and Social Media – Together at Last?

Posted by Emily Lange Rodecker on April 8, 2013

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Topics: Business, compliance, Compliance, FFIEC, regulations, SEC

5 Ways to Stay Safe & Compliant with the FFIEC Social Media Guidance

Posted by Emily Lange Rodecker on February 25, 2013

On January 23, 2013 the FFIEC (Federal Financial Institutions Examination Council) released proposed guidance for social media use by institutions within the regulated banking industry, providing an outline for financial institutions to monitor & manage the risk associated with becoming active with social media. Below we share  tips to help you keep your bank safe and compliant. 

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Topics: archiving, Business, compliance, Compliance, FFIEC, filtration, keyword moderation, reputation management, social media, social media for banking, Social Media for Banking, social media policy, team management, training

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