Entries by Andrea Lee Negroni, JD

What Mortgage Companies Can Learn from Airlines in Social Media Crisis Responses

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The blizzard of bad press after United Airlines ejected a boarded passenger has died down, but if airlines were people (and had obituaries), United’s would surely include the April 9, 2017 episode. The outrage was immediate and international, but outrage wasn’t the only consequence. United was vilified on social media, mocked on national TV and […]

Your Business Records are in Pockets and Purses

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Companies keep business records for regulatory and legal reasons, with IT departments and records managers typically holding the keys to the records kingdom, sometimes assisted by outside vendors. In financial services, records are frequently examined for compliance purposes, and comprehensive record keeping is a specialty of its own. In addition, protecting proprietary and business IP […]

12 Free or Low-Cost Social Media Compliance Resources for Mortgage Lenders

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Consumer financial services providers, including mortgage lenders, are rightly concerned about whether their social media use puts their organizations at risk. In response to this issue, the Federal Financial Institutions Examination Council (FFIEC) issued guidance for social media risk management in a policy statement, but the guidance is short on practical advice.[1] Since then, financial […]

Email Hacks and the Privacy Panic Cycle: How do financial companies respond?

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When this blogpost appears, the Presidential campaign will be history, but the sensational email hacks involving public figures like John Podesta and Colin Powell will live on to be dissected again and again. For the umpteenth time, we’ve learned that insecure electronic messaging can cause damage. In some circles, there’s heightened anxiety about hacking and […]

Social Media Lessons of 2016

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By now, most financial firms and mortgage lenders know they should monitor, preserve, and archive social messages involving their employees and customers. The need to preserve these records is driven by legal requirements and the demands of litigation preparedness. Regulatory compliance and litigation often require the examination of social messages, but the results of unpacking this […]

Litigation Risks of Failure to Archive Social Media Communications

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By now, most members of the financial and mortgage banking industries know they must retain and archive electronic communications. But some companies don’t yet realize that social media communications are included in this mix. And among those that do realize the requirements, archiving efforts are far from complete. Why don’t more companies archive social media communications? […]

What would the Inspector General say about your records management and archiving?

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[Author’s note: This blogpost is about business, not politics.] The Office of the Inspector General (OIG) made a big splash recently with its report evaluating email records management at the State Department. Financial companies would do well to study the OIG report, because it lays out a useful roadmap that identifies potholes and other hazards associated […]

Adopting a Social Media Policy: 12 Essentials for Mortgage Lenders and Brokers

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Financial institutions no longer need convincing that a social media presence is essential. Endless studies and research data demonstrate the point so persuasively that even the initially-reluctant have come around. But practical acceptance of the need for meaningful social media policy guidelines is less universally acknowledged. In the absence of policies, however, social activity can be […]

Bad Record Retention Policy = Red Flags for Mortgage Compliance Risk

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Faulty and incomplete records are enforcement targets for regulators. New York and New Hampshire banking departments have targeted lenders based on record keeping problems. Perhaps more problematic, record problems can look to regulators like red flags for noncompliance in other areas. State banking departments are upping the ante on record keeping violations, if recent developments in […]

Social Media Slip-Ups: Mistake or Malicious?

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An ocean of ink has flowed about the risks of social media for financial institutions. The publicized dangers usually concern a bank that had its reputation undermined by the inadvertent disclosure of private or personal financial information via social networking. A 2014 Accenture paper on social media quotes the head of privacy and information management at […]