Social Networking – Compliance and Legal Implications


Presented by: Carl Pry

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Has your institution established a Facebook page? How about a Twitter presence? Maybe you're not sure what these even are, aside from your kids using them. However, you may already have a presence and not even know it: your employees might talk about your institution on their own blogs or tweets, or your institution's customer service may be the subject of a diatribe on an online ratings site.

Are you even aware of what is being said about your institution on these new channels? Taking a wait-and-see attitude might not be the best approach, since many customers have come to expect their financial institutions to reach out in these new and exciting ways.

And what about the legal and compliance implications? Technology has always been in front of regulation, so the existing regulatory structure must be adapted to these new methods of communication. Do you have a risk management review process that accounts for these types of communications? We'll talk about the challenges that should be addressed when considering social media as a customer service tool within your institution, and help you understand how to handle these issues now and in the future.

Covered topics include:
  • Do different communication channels have different compliance requirements?
  • Handling different types of channels: those you control vs. those you don't
  • Advertising requirements in Regs Z, DD, FDIC membership, FHA, and non-deposit retail investment, as well as fair lending implications
  • Record retention and management - what do we have to retain here?
  • Information security issues - protecting customer information, phishing attacks, and fraud/ID theft
  • Payment channels - this is closer than you think
  • Developing policies and procedures around employee and sales staff usage
  • Issues to consider when employees act on their own
  • Public ratings of how your bank is viewed in cyberspace - not just a challenge, but an opportunity
Target Audience
Anyone at your institution that has a hand in how social media and networking contribute to your institution's image and bottom line, including compliance officers, counsel, marketing, sales staff, IT, and senior management will be particularly interested in this webinar's material.

About the Speaker: Carl Pry, J.D., is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Vice President and Compliance Manager for a large financial institution in Ohio. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

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CD-ROM includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in March 2010. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_social0310
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Friday 08 January, 2010.

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