Time to Get Socially Compliant

– Bank News

On behalf of its members - the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the FDIC, the National Credit Union Administration, and the Consumer Financial Protection Bureau - the FFIEC released final supervisory guidance in "Social Media: Consumer Compliance Risk Management Guidance."

Effective immediately, the final guidance largely tracked the original proposal released for public comment last year, offering covered entities an explanation of various federal regulations and laws applicable to social media communications.

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