Compliance Blog

By now, I hope you understand that I take a broad view of what a compliance officer should think about.  At the end of the day, we manage risk.  A good compliance officer not only worries about how something should be done - they also think about whether the credit union should even attempt to do it.   Credit unions should measure reputation risk when making every business decision.

With that in mind, here's a great post from The Financial Brand.com.   It tells the story of a bank that let a promotional website domain name lapse.  A squatter quickly grabbed the domain name, and now the website hosts pornography.  Yes. Pornography. The post sums it up quite well:

Some might argue that it doesn’t much matter if a few stragglers stumble into a porn microsite after your promo is over. Who cares? Well, for starters, your customer, Mr. Jones, will have much to explain to Mrs. Jones when she spies a sex chat website on his computer; instead of finding the financial information he wanted, he gets an earful from his now-distrusting spouse. Do you think he’ll hold a grudge against you? You bet. But for $10, you can spare your brand and the Joneses ugly embarrassments.