Skip to content

New Forms of Marketing

Answered by: 

We have employees who have joined Facebook, Twitter, Linkedin and the like. These are social networking sites and what employees do on their own time is their own business. Are we responsible for advertising compliance if they solicit business in these sites, as they strive to make new accounts goals?

Yes. When they represent the bank, they are subject to the advertising requirements. This is no different than an employee setting up a personal website and using it for banking business.

You might be able to argue with a regulator and avoid a cite, requiring that the offending content be corrected or removed, but if a customer sued, the bank's name would surely be involved. It is your product and service, you would enjoy the benefit of the account and you have the deep pocket. Employees should be trained to separate their personal and business lives as they could pose a risk to the bank.

First published on 5/04/09

First published on 05/04/2009

Filed under: 
Filed under compliance as: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics