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Banks receive federal guidance on social media

A new guidance was issued recently by the Federal Financial Institutions Examination Council to aid banks in navigating the risks posed by use of social media.

The guidance, titled "Social Media: Consumer Compliance Risk Management Guidance", was released on Dec. 11 and will be used by banking regulators in their supervision efforts.

You can read the guidance by clicking here. Also, read an overview of the guidance in Compliance Week magazine by clicking here.

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