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SOCIAL MEDIA AND THE FFIEC

Earlier this year, the FFIEC agencies proposed guidance to address the applicability of federal consumer protection and compliance laws, regulations, and policies to activities conducted via social media.  The agencies have received public comment and are currently working on the final guidance.  While the proposed guidance does not create any new regulation or rule,  it is a guide to the applicability of existing requirements and supervisory expectations to financial institutions’ use of social media.  In…

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