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by Josh Druck
on December 20, 2013

FFIEC Releases Social Media Guidance for Financial Institutions

The Federal Financial Institutions Examination Council (FFIEC) has issued guidance for financial institutions’ use of social. According to the FFIEC, the guidance is advice and does not enforce any new obligations on financial institutions.

At

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FFIEC has delivered a smart and helpful checklist of best practices, not only for financial institutions but for any large company defining its approach to social.

Here’s what the FFIEC recommends:

Finally, the FFIEC cautions that even financial institutions who don’t engage in social media should still be prepared to tackle the possible impact of negative comments or complaints that surface through any digital outlets.

See the entire document “Social Media: Consumer Compliance Risk Management Guidance,” here.