E. Andrew Keeney presented Social Media Compliance Risks at The Credit Union League of Connecticut's Compliance Series: Social Media Compliance Risks on February 10, 2015.

1. February 10, 2015
Social Media
Compliance Risks
E. Andrew Keeney, Esq.
Kaufman & Canoles, P.C.

2. 2
E. Andrew Keeney, Esq.
Kaufman & Canoles, P.C.
150 West Main Street, Suite 2100
Norfolk, VA 23510
(757) 624-3153
eakeeney@kaufcan.com
http://www.kaufmanandcanoles.com/movies/credit-unions.html

3. 3
Overview and Agenda
• Marketing and Advertising Issues
• Privacy Issues
• Risk Areas
• Compliance and Legal Risk
• Reputation Risk
• Privacy

4. 4
Overview and Agenda cont.
• Truth in Lending/Reg Z
• UDDAP
• Deposit Insurance or Share Insurance
• RESPA
• Fair Debt Collection Practices Act
• Fair Lending

5. 5
Marketing and Advertising
Issues
• Deposit products
• Lending products
– Regulation Z
– Regulation D

6. 6
Privacy Issues
• Constant monitoring
• Procedures
– Gramm-Leach Bliley
– SPAM Act
– Telephone Consumer Protection Act
– Children’s Online Protection Act

7. 7
Risk Areas
• Deposit and Lending
– Truth In Savings
– Fair Lending
– Truth In Lending
– Deposit/Share Insurance
– RESPA
– BSA/AML

8. 8
Compliance and Legal Risk

9. 9
Reputation Risk
• Dissatisfied members – negative public
opinion
• Fraud and bond identity
• Third party concerns and working with third
parties to provide social media services
• Privacy and data security
• Employee use of social media sites
• Consumer complaints and inquiries

10. 10
Privacy
• Gramm-Leach Bliley and Data Security
Guidelines
• SPAM – Telephone Consumer Protection Act
• Children’s Online Privacy and Protection Act
• Fair Credit Reporting Act

11. 11
Truth in Lending/Reg Z
(TILA-RESPA)

12. 12
UDDAP
(Class Actions)

13. 13
Deposit Insurance or
Share Insurance

14. 14
RESPA
(Referrals)

15. 15
Fair Debt Collection
Practices Act
(Treble Damages)

16. 16
Fair Lending

17. 17
The Puzzle

18. 18
Key Takeaways
• Compliance Procedures
– Compliance training
– Constant monitoring
– Policing
– Action now and not tomorrow
– Accelerate and/or monitor vendor due diigence

19. 19
E. Andrew Keeney, Esq.
Kaufman & Canoles, P.C.
150 West Main Street, Suite 2100
Norfolk, VA 23510
(757) 624-3153
eakeeney@kaufcan.com
http://www.kaufmanandcanoles.com/movies/credit-unions.html

20. February 10, 2015
Social Media
Compliance Risks
E. Andrew Keeney, Esq.
Kaufman & Canoles, P.C.