Financial services industry is reluctant to use social media

12/6/2010 | Washington Post, The

Many businesses have embraced social-media sites to reach out to customers, but the financial services industry has largely avoided the revolution. Company rules and other regulations keep the industry from embracing social media, according to Margaret Paradis, a partner at Baker & McKenzie. She argues that prohibiting employees from using Facebook, Twitter and other social-networking sites hinders their ability to reach out to clients.

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