Posted in: Social Media Compliance
It looks like Facebook is in trouble yet again. This time, it’s with the FTC. In its latest brush with the Federal Trade Commission, Facebook was fined $5 billion as part of a settlement – the largest penalty ever imposed on a company for violating consumers’ privacy rights. Along with the fine, Mark Zuckerberg, Facebook’s […]
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Ads for jobs, loans, and credit cards will now be searchable for all U.S. Facebook users as part of a legal settlement to eliminate discrimination. This follows a plan that Facebook made in March to make U.S. housing searchable by advertiser and location. Previously, ads could be delivered only to select users based on demographics […]
Continue ReadingPosted in: Social Media Compliance
Let’s say you’re operating the social media accounts for your bank and want to create a promote your free checking on Instagram. This isn’t a boosted ad, just a normal post on your IG profile. This is tricky situation, because you have a feeling that you need to include a link to the terms within […]
Continue ReadingPosted in: Social Media Compliance
It was a great and long overdue vacation. You saw the sights, partied with your friends, and finally felt relaxed. Then, you head back to work recharged and ready to go only to find that you’ve been let go for the pictures you posted of your trip on your personal Facebook page. Say what?!?! Can […]
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Targeted ads on Facebook have helped many businesses hone in on specific markets and design their advertisements to speak to only those audiences. This tool makes it easier for businesses to reach people who are more likely to use their products or services; however, when it comes to banking and housing, there’s a fine line […]
Continue ReadingPosted in: Social Media Compliance
We tried to warn you. Last year, when Facebook announced that it was allowing banks to target people based on their demographics when promoting credit products, real estate, or employment-related posts, we predicted that this practice would violate the Equal Credit Opportunity Act. Now, as part of a legal settlement, Facebook is changing its advertising […]
Continue ReadingPosted in: Social Media Compliance
Has your bank or credit union been accurately preserving the content it’s been posting on social media? If not, you may be in violation of FFIEC social media guidance, and that can spell big trouble for your financial institution. Banks are often surprised to learn that they must archive their social media content and […]
Continue ReadingPosted in: Social Media Compliance
When it comes to the FFIEC social media guidance for banks and credit unions, your financial institution needs to ask itself an important question – are we in compliance? While social media is an awesome method of promoting your products and services, you also need to comply with the law. Sometimes you are required […]
Continue ReadingPosted in: Social Media Compliance
Let’s make one thing abundantly clear: social media may be used to market your banking products and grow your online audience, but you must take steps to ensure that all social media activity complies with FFEIC social media guidance. Your financial institution can’t afford to sit on the sidelines and not take advantage of […]
Continue ReadingPosted in: Social Media Compliance
In today’s online environment, banks and credit unions need to have a social media presence to be successful. But using these platforms can expose your financial institutions to serious social media legal risks. After all, your social media activity is subject to the same regulations that apply to the financial industry as a whole, including […]
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