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Product ID: 406632EAU
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Using Social Media in Banking

OnDemand Webinar (73 minutes)

Stay up-to-date on the various shifting financial regulations that apply to social media.The use of social media has exploded in the past few years. Individuals are using it to communicate with each other on a daily basis. Businesses, especially banks and other financial institutions, are searching out ways to use social media to market to consumers. Yet, because the financial services industry is so highly regulated, the regulators are scrambling to keep up with this new marketing avenue. They have implemented regulations intended to protect consumers, often imposing board level responsibility for compliance. In the rush to connect with customers, many financial institutions may be unaware of existing regulatory guidance on these issues and hence risk running afoul of the regulators. This topic helps the people responsible for compliance understand the existing regulatory framework. Further, the material explains the restrictions imposed when dealing with consumers online. Failing to understand and follow these rules can result in regulatory actions. This information is critical for financial institutions that market to consumers online in order to ensure they comply with federal regulations.


Kevin C. Taylor


FFIEC Regulated Banks and Institutions

• Deposits and Loans

• Electronic Payments

• Credit Reports

• Third-Party Service Providers

SEC/FINRA Regulated Institutions

• Supervision

• Advertising

• Recordkeeping

FTC/CSFB Guidance - Applies to Consumer Oriented Financial Service Companies

• Endorsements

• Online Advertising

• Behavioral Tracking

Other Considerations

• Fraud Issues

• Privacy/Data Security

Practical Guidance

• Policies and Procedures Needed to Address Unique Issues, Such as the Risks of Online Posts, Edits, Replies and Retention

• Managing Vendors Who May Host, Manage Content or Otherwise Be Involved in the Process

• Employee Training, and Drawing the Line Between Personal and Professional Social Media Use

• Oversight Controls and Reporting

• Specific Laws and Regulations That Come Into Play With Social Media Activities