Lesson : FFIEC Social media Consumer Compliance Risk Management Guidance
The FFIEC has issued its final guidance on the use of Social Media by financial institutions. The guidance states that it imposes no new requirements and no new obligations. However it does state that financial institutions will be expected to understand and manage risks identified through the risk assessment of its social media operations that is required to be conducted by each financial institution.
Note: this training module should be used in conjunction with the guidance document that can be found by going to www.ffiec.gov, click on “what’s new” on the left, and then on the words “press release” in the paragraph describing the December 11 release.