What The Regulators Think

Last week the FFIEC* released draft guidelines on social media for financial institutions. Interestingly enough they may apply whether or not your institution uses social media as they believe the institution is at risk either way. Check out the full document here: http://www.ffiec.gov/press/Doc/FFIEC%20social%20media%20guidelines%20FR%20Notice.pdf. To cut to the chase TheFinancialBrand.com provided a quick overview that summarizes the guidelines in this article: http://thefinancialbrand.com/27250/ffiec-social-media-policy-guidelines-for-banks-credit-unions/ So what do you think – are these guidelines overkill or spot on?

*For my non-financial readers: Federal Financial Institutions Examinations Council

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