The Consumer Financial Protection Bureau, or CFPB, anticipates that users of social media will interact with the CFPB through services such as Facebok, Twitter, YouTube and Flickr. The CFPB believes the use of social media will enable the CFPB to:
- interact with the public in effective and meaningful ways,
- encourage the wide sharing of consumer financial information and the strengthening of an online community of consumers, and
- ensure that critical information about the agency and key consumer finance issues is distributed.
The CFPB recently issued this notice explaining when social media records may be disclosed.
Check dodd-frank.com frequently for updates on the Dodd-Frank Act and other important securities law matters.