From: Reuters
By Bora Yagiz, Compliance Complete
NEW YORK, Feb. 13 (Thomson Reuters Accelus) – The guidelines on social media proposed by bank regulators comprising the Federal Financial Institutions Examination Council (FFIEC) in January are intended as a basic tool to help financial institutions identify potential trouble areas and address them as part of an overall risk management program.
The council identified potential risks for financial institutions in the areas including deposit insurance, debt collection practices, use of payments systems, equal access for credit, and bank-secrecy anti-money laundering processes.