June 19, 2014

Webcast: TISA risk for social media

June 20, 2014 – Credit unions that tuned into NAFCU's webcast Wednesday learned about how to properly manage social media advertising and risks associated with Truth in Savings requirements.

Webcast speaker John Zasada, principal at CliftonLarsonAllen, talked about how social media has evolved and the compliance challenges it presents in connection with federal truth-in-savings rules on advertising. Zasada discussed requirements such as trigger terms, APY (annual percentage yield) disclosures and electronic promotions.

He also discussed the Federal Financial Institutions Examination Council's "Social Media: Consumer Compliance Risk Management Guidance" and what it means for a credit union.

The webcast, "Advertising Series: Truth in Savings and Its Impact on Social Media" was moderated by NAFCU Senior Regulatory Compliance Counsel Bernadette Clair. It will remain available for one year past the broadcast date.