The Federal Financial Institutions Examination Council (FFIEC) has released proposed guidance on the use of social media by financial institutions, including banks, credit unions, and non-bank entities supervised by the Consumer Financial Protection Bureau. The proposed “Social Media: Consumer Compliance Risk Management Guidance” (“Proposed Guidance”) defines “social media” broadly to including micro-blogging sites (like Google […]
California has become the latest state to pass a law prohibiting employers from requesting access to employees’ and job applicants’ social media information or accounts.
This summer, several states have enacted legislation addressing a broad range of privacy issues including data breach notification, health care privacy, employer access to employees’ and applicants’ social networking accounts, the collection of Social Security numbers, and telemarketing. We provide an overview of the recent privacy regulation developments in Vermont, Connecticut, Hawaii, New York, and Illinois.
A financial services industry group recently released guidance on managing the risks associated with using social media such as Facebook and Twitter. The guidance, titled “Social Media Risks and Mitigation,” was released this week by BITS, a division of the Financial Services Roundtable, which represents 100 of the largest financial services companies. The guidance includes tips on managing numerous concerns specific to financial institutions, which are increasingly using social media in their marketing and customer relationship activities.
On June 24, the FTC announced a proposed consent order with social networking service provider Twitter, Inc. The Twitter investigation is consistent with the FTC’s longstanding interest in policing the data privacy and security practices of social networking services, dating back to the FTC’s first online privacy case against Geocities in 1998, It evidences a broader ccope of FTC information security enforcement.