Editor’s Note: For CRE’s views on use of social media in rulemaking, see here.
From: American Banker
WASHINGTON — For bank regulators and the industry, writing risk management policies around banks’ use of social media is akin to trying to board a moving bullet train.
But the agencies have won praise for attempting to propose a framework intended to be applied for both the current and future social media landscape.
“Social media is very dynamic. … It’s difficult to put in place guidance when social media is still developing and changing,” said Mercedes Kelley Tunstall, a partner at Ballard Spahr and one of three panelists who will address policy issues facing banks’ use of social media at American Banker‘s 3rd Annual Regulatory Symposium.