Links in “Social Media”
- Is Social Media the New Tool for Determining Creditworthiness?
Alternative lenders think so. While they admit that social media wonât replace a FICO score, they say it can be useful in evaluating applicants who do not have a FICO score or who are trying to rehabilitate their credit. Companies, such as Lenddo, links social networks to develop a social credit score. [9/9]
- Emerging Small Business Lending Factor: Social Media
Crop of new lenders take the social media presence of tech startups and small businesses when determining the risk of making the loan. [9/5]
- Top 10 Twitter Accounts to Follow for Compliance
Twitter is becoming an increasingly helpful alert tool for matters pertaining to compliance and risk; part 1 of a 2-part series. [9/3]
- CFPB Seeks Quick Revision to Privacy Act for Use of Social Media
Proposal (comments due 9/16/2013) seeks to expand use and distribution of social media information obtained by CFPB from tweets, facebook, etc. Distribution partners include not so surprisingly the DOJ among others. [8/16]
- Are You in Sync with the Dominant Marketing Trends?
If your marketing plan doesnât address or consider the following four items, you may be out of step with the direction financial services marketing is taking: Value Proposition, âSheconomy,â Millennial Generation, Evolving Social Media Platforms. [8/5]
- Social Media Tip: Pre-empt Fake Profiles by Registering Name
Even if your bank doesn't plan to manage multiple social media accounts, you may want to create a Twitter profile, for example, using your bank's name to prevent someone else from setting up a fake profile and posting embarrassing material, like someone did with Bank of America. [8/2]
- Tracking Member Complaints in a Viral Media Era
When even a single complaint can be the catalyst for an examination, tracking and analyzing complaints, whether formal through NCUA or an angry tweet or Facebook message, can help manage the CU's reputation and compliance risks. [7/23]
- Do You Know the Liability Risks of Your Social Media Program?
An industry legal expert identifies the specific legal risks that every credit union should know about and provides recommendations for enhancing your internal policies and procedures. [7/10]
- Social Media Policy: Your CU Needs One
CUs are increasingly using social media as a marketing tool, but most donât have a written social media policy to address regulatory compliance, privacy and other important issues; here's what the FFIEC is proposing they do about it. [5/30]
