Social media and websites are subject to the same federal consumer protection laws and regulations as other marketing channels. However, we see credit unions often overlook the compliance requirements applicable to social media and websites. During this session, we will discuss the root causes of compliance not being fully considered in the social media and website process as well as how to better integrate compliance into the process.
Risks associated with non compliant websites and social media content have never been greater. There are an unprecedented number of regulatory compliance changes impacting credit unions and the marketing department has not been spared. Examiners will be spending more time reviewing credit union marketing efforts for compliance as the Consumer Financial Protection Bureau ramps up its compliance initiatives. To help prepare you, we will describe the most common compliance violations we find on credit union websites and social media. We will provide actual examples of compliance violations and explain how to correct them. Regulations and regulatory requirements covered include the following:
- Regulation Z
- Truth in Savings
- NCUA Insurance Advertising
- Regulation B