The Federal Financial Institutions Examination Council (FFIEC) Guidance on Social Media provides compliance on the applicability of consumer protection and compliance laws, regulations, and policies to activities conducted via social media financial institutions such as banks, savings associations, and credit unions, as well as nonbank entities under supervision by the Consumer Financial Protection Bureau.
The goal of this guidance is to help financial institutions understand their risks associated to social media and provide expectations for managing these risks. The content channels expected to be in compliance include: email, instant messaging, social media, text/SMS, audio, video, website and blogs. The regulated regions are North America and the United States.
Read the press release for this guidance. To review the guidance details, visit the FFIEC website.
For more compliance regulation rules, visit our Archiving Compliance Regulations & Supervision Rules page with all of the financial services regulations.
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* Erado assumes no liability for the accuracy or completeness of this information. Please consult with an attorney for information on specific rules and regulations and how they apply to your business.