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|Event Name:||Marketing & Advertising Compliance|
|Date:||Wednesday, October 10, 2018 10:00am CDT|
|Panelist(s) Info:||Carl Pry (Bio)
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
|Credits:||2.5 CE Credits|
If you read the first CFPB enforcement action carefully, it's clear what is being targeted: sales and marketing practices. Now is a great time to learn from others' mistakes, even if you're not a big bank subject to the Bureau's oversight.
With everything happening in the financial services industry, now more than ever it's important that your advertising and marketing efforts are effective. Moreover, regulator and examiner attention to your advertising and marketing efforts is at an all-time high. Advertising is being looked at in different ways than before.
There are standards to observe, especially when it comes to UDAAP (Unfair, Deceptive, or Abusive Acts or Practices). This is a seismic shift in regulatory enforcement, where practices that were perfectly acceptable in years past are now problematic. In the rush to attract new business and keep the clients you have, compliance requirements can easily be missed or ignored.
What can you say in advertisements? What must you say? What can you not say? Many sets of rules govern these questions, and more are on the way. How about your promotional efforts - contacting prospects and customers to let them know what you have available?
As the compliance environment becomes more complex, your marketing department must stay on top of all the rules and regulations. This session can help.
Who should attend?
Anyone involved in developing and marketing your institution's products and services, including the marketing department, compliance officers, auditors, business managers, sales and service staff, and anyone else whose duties involve promotion.