Links in “Social Media”

Personal privacy issues aside, consistency of behavioral patterns (same phone, same general location, same general time) in aggregate is a better risk than asking the consumer for his or her mother's maiden name, which can easily be obtained via social media. [8/11/14]

NCUA Chair Debbie Matz, speaking at the NAFCU Annual Conference, announced that in the coming months NCUA will be issuing three proposed rules that she believes will provide greater flexibility and guidance for credit unions. Specifically, she referred to plans to effectively eliminate the 5% cap on fixed assets, to provide greater flexibility to the member business lending rule and to update the NCUA advertising rule in order to address new technology, including social media. [7/24/14]

The CFPB's proposal to invite consumer complaint narratives in its public database would subject financial institutions to reputational risk. Unlike the popular rating app Yelp, the database will not include favorable consumer experiences. [7/23/14]

At CUNA's American Credit Union Conference, speakers Amber MacArthur and Fredda McDonald urged credit unions to take new technology and social media and run with it—if they want to be competitive and reach a larger audience, that is. Specifically, MacArthur provided eight social media best practices, including jumping on the bandwagon of "contagious" trends. A summary of MacArthur's talk can be accessed here. [7/3/14]

List of top 50 community bank leaders in social media. [7/1/14]

As if the competition from the bank across the street weren't enough, now the thing that worries 91% of bank directors and senior executives is nonbanks entering financial services. [5/16]

With EMV adoption far from a reality, two-step authentication, being employed now by Gmail, Twitter and Facebook, is one of three steps described here that banks can take now to better secure their transactions. [5/13]

Credit unions that have a page on Facebook will be interested to know that the percentage of their fans who see their posts is going to decrease from 16% to 1%. This makes organic popularity nearly impossible, and dramatically increases the cost of advertising  your page. [5/7]

Let's get social, but let's do it smart. Host Ken Agle presents what financial institutions should know about their social media presence and recent regulatory guidance on the issue. [3/14]

While there are competing interests, here are some tips when crafting a compliant social media policy. [2/28]