We all knew social media would be popular, but it has become the most common thing we do online. Social media has also given us great ways to protect and build our digital reputations. Today, we have the ease of searching conversations, the ability to set alerts to help us monitor our names, the constant availability of learning opportunities and more ways to communicate and interact with others. All of these tools, which were not available just a few years ago, now make it possible for us to be proactive in maintaining, building and protecting your personal brand and help spread word-of-mouth about your business.
The Federal Financial Institutions Examination Council (FFIEC) has recently released new guidelines entitled “Social Media: Consumer Compliance Risk Management Guidance” to help financial organizations effectively manage the potential risks caused by the use of social media. The activities of financial institutions are regulated by specific consumer protection and compliance laws, so there are specific steps they must take in order to protect their reputations and their clients.