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Banks Social Media – Fed. Fin. Inst. guidance

FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

Docket No. FFIEC – 2013 – 0001

Social Media: Consumer Compliance Risk Management Guidance

AGENCY:

Federal Financial Institutions Examination Council (FFIEC)

ACTION:

Notice; request for comment.

Banks Social Media – Fed. Fin. Inst. guidanceSUMMARY: The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, requests comment on this proposed guidance entitled “ Social Media: Consumer Compliance Risk Management Guidance ” (guidance). Upon completion of the guidance, and after consideration of comments received from the public, the federal financial institution regulatory agencies will issue it as supervisory guidance to the institutions that they supervise and the State Liaison Committee (SLC) of the FFIEC will encourage state regulators to adopt the guidance. Accordingly, institutions will be expected to use the guidance in their efforts to ensure that their policies and procedures provide oversight and controls commensurate with the risks posed by their social media activities.