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14
Jul
Of critical importance for any financial institution using Twitter or other social media for business marketing and promoting purposes, the Federal Financial Institutions Examination Council (FFIEC) has issued final supervisory guidance titled “Social Media: Consumer Compliance Risk Management Guidance” (the “Guidance”). The FFIEC issued proposed guidance on the subject on January 23, 2013, and received 81 official comments on the proposal.
Importantly, the Guidance does not impose any new requirements on financial institutions, but rather is intended to help financial...