Linda Odom, Counsel on the Bryan Cave Payments Team, spoke at the RMA’s Ninth Annual Governance, Compliance, and Operational Risk (GCOR) conference in Cambridge, Massachusetts, which was held on April 22 and 23. In her presentation, Linda Odom noted the pressure on banks to weigh in on social media to tap into the vast opportunities for direct customer interaction in customer research, increased brand awareness and advertising. She discussed the Federal Financial Institutions Examination Council (FFIEC) guidance addressing applicability of federal consumer protection and compliance in social media activities, and existing requirements, supervisory expectations and risk management procedures.
The presentation slides may be found here: RMA_Social_Media_Risk_Presentation
