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As social media use becomes more prevalent, NAFCU's Jennifer Aguilar helps credit unions understand advertising requirements for financial products and services on these platforms in a new Compliance Blog post.

Aguilar, NAFCU's senior regulatory compliance counsel, recommends credit unions first review the Federal Financial Institutions Examination Council's (FFIEC) social media guidance. Though the guidance was written in 2013, the FFIEC noted the likely development of new technologies that could require credit unions to assess whether they fall into the category of social media.

Aguilar then explains additional guidance and requirements, including:

• the NCUA's official advertising statement, which was revised in April;
• Truth in Savings and Regulation Z's one-click away option;
• terms of use for social media platforms; and
• credit union's individual social media policies.

Read Aguilar's blog post here. Those interested can sign up to receive new NAFCU Compliance Blogs posts in their inbox every Monday, Wednesday and Friday here.