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#1652771 - 01/19/12 04:00 PM Social Networks
YVeitia Offline
Junior Member
Joined: Aug 2011
Posts: 30
Hello to all!

Social Networks is a “gray area” for Banking Compliance; we don’t have guidance or regulations to abide to. However there are tons of banks that have launched their Facebook/Twitter page. Do any of you have hands on experience on this matter? Can you share your knowledge and what you have done? Any Compliance implication you foresee or may have encountered by doing so. In our Facebook page we plan to provide information to the public concerning the products and services we provide, interactive communication, promote news and events... etc.

Any ideas and suggestions are welcomed. Thanks

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eBanking / Technology
#1652795 - 01/19/12 04:13 PM Re: Social Networks [Re: YVeitia]
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 73,272
Galveston, TX
There has been a lot of discussion in the marketing forum. I would start there.
The opinions expressed here should not be construed to be those of my employer:

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#1652996 - 01/19/12 05:38 PM Re: Social Networks [Re: YVeitia]
NotPerfect Offline
Platinum Poster
Joined: Jan 2009
Posts: 682
Also look into creating a social media policy for the bank and employees.

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#1653359 - 01/20/12 10:52 AM Re: Social Networks [Re: YVeitia]
Andy_Z Offline
10K Club
Joined: Oct 2000
Posts: 27,010
On the Net
Why is it a gray area? Compliance applies depending on what is posted. If a SN site for the bank advertises consumer loans, Reg Z applies, deposits, Reg DD applies.

Here is a list I have that I use when I teach on SN and compliance.

Reg DD
Reg Z
FDIC membership
Fair Housing
Risk mgmt (not a reg, but applicable.)
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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Moderated by:  Andy_Z