25 August 2016
Find out more

Citi seeks social media lawyer

18 November 2010  |  13467 views  |  0 citi bank

US bank Citi is looking to hire an attorney to provide legal oversight for its social media activities.

The associate general counsel will cover Citi-sponsored media such as company Web sites, Twitter accounts, and YouTube. They will also overlook the bank's interaction with the public and third parties as well as staff use of the technology.

Over the summer, Citi hired Frank Eliason - who gained a reputation as a "Twitter guru" in his previous role at US cable, phone and Internet provider Comcast - to lead its social media efforts.

The bank has embraced the social Web, particularly Twitter, using the medium to offer customer support and take part in a Finextra Twitterview.

More recently it has moved to expand its presence on social networking site Facebook. This week Citi launched a US banking page on the site and garnered more than 7000 fans on its first day.

From tomorrow, the Citi Facebook page will support charitable group Toys for Tots, by encouraging consumers to post a story about a favorite childhood toy they received as a child. For each story posted, Citi will donate $10 to Toys for Tots, up to $100,000.

However, it has also run into problems in the social sphere, blocking the account of a social networking site for gay men over its blog's "objectionable" content earlier this year. The bank was forced into a climbdown, issuing a full apology to the site's founder Jason Goldberg.

More generally, regulators have been moving to tackle the new communication channel. In January, Finra issued guidance to securities firms and brokers on the use of social networking Web sites such as facebook, Twitter and LinkedIn to communicate with the public.

The new Citi social media lawyer will be charged with:

  • Continued development and management of documentation for Citi-sponsored Web initiatives (internal and external).
  • Leading the establishment of legal risk framework for the company's social media efforts.
  • Working with specific business counsel to ascertain approval of content, as appropriate.
  • Consolidating, identifying and addressing legal issues presented in content submissions for the social media sponsor.
  • Helping to establish consistent processes for vetting and replying to comments in interactive environments (Web sites, Twitter, etc) and promoting consistency of policy implementation and risk-related practices.
  • Helping protect Citi intellectual property in the world of social media.
  • Helping oversee negotiation and drafting of contracts with third parties such as social media providers and content sources.
  • Serving as a resource for Citi's business areas and business counsel as to inquiries regarding legal risks and parameters for social media.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

NAB searches for social media guru

NAB searches for social media guru

03 November 2010  |  8651 views  |  0 comments
Banks face up to social media challenges - Finextra@Sibos

Banks face up to social media challenges - Finextra@Sibos

27 October 2010  |  16756 views  |  0 comments
Firms that shun social media are missing out - studies

Firms that shun social media are missing out - studies

21 July 2010  |  11336 views  |  0 comments
Comcast's Twitter guru Frank Eliason joins Citi

Comcast's Twitter guru Frank Eliason joins Citi

21 July 2010  |  13190 views  |  0 comments
Regulators turn up the heat on social media-linked scammers

Regulators turn up the heat on social media-linked scammers

16 July 2010  |  5668 views  |  0 comments
FSA warns on social media financial promotions

FSA warns on social media financial promotions

15 June 2010  |  9509 views  |  0 comments
Twitter's Alex Payne joins BankSimple team

Twitter's Alex Payne joins BankSimple team

18 May 2010  |  10014 views  |  0 comments
Goldman PR chief sent up by Twitter imposter

Goldman PR chief sent up by Twitter imposter

05 March 2010  |  10090 views  |  1 comments
First Direct falls foul of Twitter hack

First Direct falls foul of Twitter hack

26 February 2010  |  17039 views  |  3 comments
Citi accused of blocking start-up account over 'objectionable' blog content

Citi accused of blocking start-up account over 'objectionable' blog content

25 February 2010  |  6366 views  |  0 comments
'Oh so very over it today' tweets Westpac

'Oh so very over it today' tweets Westpac

18 February 2010  |  13787 views  |  1 comments
Finra issues social networking guidance

Finra issues social networking guidance

26 January 2010  |  10424 views  |  0 comments
Finra forms Social Networking Task Force

Finra forms Social Networking Task Force

29 October 2009  |  12380 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit equens.comVisit capgemini.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
7736 views 0 | 52 tweets | 43 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
6533 views 3 | 22 tweets | 12 linkedin
Teenager avoids conviction for CommBank DDoS attackTeenager avoids conviction for CommBank DD...
5968 views comments | 2 tweets | 3 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
5896 views comments | 17 tweets | 17 linkedin

Featured job

Find your next job