If you read enforcement actions related to marketing and advertising carefully, it’s clear what else is being targeted: sales and marketing practices. It’s always useful to learn from others’ mistakes, regardless of your institution’s size or regulator.

This continues to be true even with new leadership in Washington and at the regulatory agencies. There continues to be a commitment to enforce rules against institutions that harm consumers, and that starts with how you communicate with them in your marketing.

Now more than ever it’s important that advertising and marketing efforts are effective. 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?