Amanda Bowling816.691.3478e-mail|vCard
08/12/2011
From American Banker Magazine, Aug. 1, 2011
American Banker interviewed Stinson Partner Karen Garrett regarding the privacy and risk issues banks must weigh as they begin to gather consumer behavior data through social media platforms.
In the article, Garrett cautions that there is a possibility of banks "unintentionally creating equal-credit opportunity violations by sorting the data in such a way that they end up profiling customers and sending them to particular products."
Garrett, a member of the firm's Banking & Financial Services Division, has advised banks on reputation and compliance risks tied to participation in social media. Garrett has significant experience working with financial institutions, trade associations, and other financial and non-financial businesses regarding regulatory and operational matters, and payment systems. As in-house counsel and outside counsel, Garrett has frequently worked with clients on product development, focusing on legal and compliance issues surrounding new products and services.
Read the full article: Friends with Benefits