Social Media & Ethical Concerns for the Credit Grantor

SOCIAL MEDIA & ETHICAL CONCERNS
FOR THE
CREDIT GRANTOR
AUGUST 9, 2018
Presented by WANDA BORGES, ESQ.
in partnership
with BARR Credit Services

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Material prepared by:
Wanda Borges, Esq.
Borges & Associates, LLC
575 Underhill Blvd.
Syosset, NY 11791
516-677-8200 x225
wborges@borgeslawllc.com
Thanks to Nancy B. Rapoport, Esq. , Laura DePrato, CCE, ICCE
and Michael Byrnes, CCE, ICCE, who contributed some of the
following slides for previous joint presentations
Wanda Borges | wborges@borgeslawllc.com

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FROM PONG TO SOCIAL MEDIA

BRAVE NEW WORLD MEETS
STODGY OLD WORLD
4
Social network issues
Other
regulatory
frameworks
Common
sense.
State ethics
rules.

5
OLD MEDIA vs. NEW MEDIA
see.
• Can send copies
all over the world
with just a few
clicks.
• You’d be amazed
at what friends of
friends might be
able to see.
• Can send copies to a few
people with a little bit of
effort.
• Friends of friends might
have some difficulty
accessing your personal
info.

ETHICAL ISSUES TO CONSIDER IN
DEVELOPING A SOCIAL MEDIA POLICY
6Wanda Borges | wborges@borgeslawllc.com

NIT TECHNOLOGIES WHITE
PAPER ON SOCIAL MEDIA FOR
AIRLINE INDUSTRY
 Written for an Airline which wants to adopt social media as
part of a marketing strategy but useful for credit grantors
as well
 Listen:
 Well-defined policies that facilitate consistent listening
 United Airlines – baggage handlers – destroyed guitar
 United disregarding attempts for resolution
 YouTube “United Breaks Guitar”
 United resolved problem and donated $3,000 to Jazz Institute
 Regulate:
 Social Media policy should provide a clear expectation of what
is permitted and forbidden to be posted

NIT TECHNOLOGIES WHITE
PAPER ON SOCIAL MEDIA
FOR AIRLINE INDUSTRY
cont’d
 Empower:
 Companies should provide guardrails for employees so they
can safely and successfully engage in social media practices
 Involve legal department but don’t let them drive the process
 Analyze:
 Track & Monitor Social media use
 Be prepared for new social media which may emerge

SOCIAL MEDIA HAS
BENEFITS FOR BUSINESSES
 Gain valuable customer insights
 Provide Rich Customer Experiences
 Find out what your competitors are doing
 Checking their websites, blogs or other social media is legal
 Share content faster and easier
 Build relationships

SOCIAL MEDIA POLICIES
 Decide:
 Who’s covered?
 Director of Credit?
 Credit Manager?
 All credit professionals?
 What’s covered? Just your business-y stuff? Any
personal social media uses?
 How to handle “endorsements.”

DEVELOP A SOCIAL MEDIA
POLICY
 Decide whether or not social media can be used
by employees/colleagues relating to credit
transactions or credit investigations
 Set strict guidelines for which social media are
allowable
 Determine when the company name may or may
not be used
 Set strict guidelines for who can or cannot post to
social media
 Consequence for breach of social media policy

SUGGESTIONS FOR A SOCIAL
MEDIA POLICY
 No negative comments may be posted, including
 Inappropriate content
 Defamatory comments
 No proprietary information may be posted
 Caution about the inadvertent or unintentional posting of
trade secrets of confidential information about your
company
 No confidential information about customers may be
posted
 No information of any kind about customers should be
posted
 Avoidance of controversial topics
 Limit personal use of blogs, networks. and social
networking sites
 Be mindful of laws and regulations

SOCIAL MEDIA POLICY
INCLUSIONS
 Avoid un-vetted postings
 Encompass what can be said, who can say it, and the
manner in which things should be said
 Address potential pitfalls in a clear manner that is
consistent with other company policy and procedures
 Distinguish between business and personal use of social
media channels
 Inform employees of the rules and regulations

SELECTIONS FROM
NPR’S SOCIAL MEDIA POLICY
 EXCELLENCE
 Social media platforms are great tools when handled correctly.
 RESPECT
 Words matter. Try to strike the right tone.
 How we treat each other
 How we deal with abusive behavior by others
 We are considerate of community norms.
 ACCURACY
 Don’t just spread information. Be careful. Be skeptical. Add
context.
 HONESTY
 We are open about who we are.
 We probably couldn’t hide anyway, because there is no privacy
on the Web.
 ACCOUNTABILITY
 Social media outlets are public spaces.

SELECTIONS FROM ABA MODEL
RULES OF PROFESSIONAL
CONDUCT ON SOCIAL MEDIA
 Avoid making False or Misleading Statements
 Do not Disclose Privileged or Confidential Information
 Do not assume you can “Friend” Judges
 Be aware of inadvertently creating attorney-client
relationships
 Beware of Potential Unauthorized Practice Violations
 Tread Cautiously with Testimonials, Endorsements, and
Ratings

IMPORTANCE OF
SOCIAL MEDIA POLICIES
 “Be Professional”
 Identifying yourself out as a representative of your
company puts you “on stage”
 On Social media the whole world can see you
 Unethical behavior can be defined simply as knowing
the right thing to do and then doing the wrong thing.

SOCIAL MEDIA AND OTHER
SITES FROM WHICH
TO OBTAIN INFORMATION
ON BUSINESSES AND PEOPLE
Wanda Borges | wborges@borgeslawllc.com 17

SOCIAL MEDIA SITES
www.Facebook.com
Probably the most popular social media site today, despite the privacy issue problems. It is the largest social
networking site in the world and one of the most widely used.
Apart from the ability to network with friends and relatives, you can also access different Facebook apps to sell
online and you can even market or promote your business, brand and products by using paid Facebook ads.
www.whatsapp.com
Originally developed to enable small businesses to interact with customers, sort and quickly respond to
messages.
www.google.com
Most readily accessible site to locate people, businesses and other information

SOCIAL MEDIA SITES
www.Linkedin.com
LinkedIn is easily one of the most popular professional social networking sites or apps and is available in over 20
languages. It is used across the globe by all types of professionals and serves as an ideal platform to connect with
different businesses, locate and hire ideal candidates, and
www.tumblr.com
Social media/micro blogging platform that can be used to find and follow things that you like. You can also use it to post
anything, including multimedia, to a short-form blog.
www.Instagram.com
A unique social networking platform that was completely based on sharing photos and videos.

SOCIAL MEDIA SITES
www.utube.com.com
YouTube is the world’s largest video-sharing social networking site that enables users to upload and share
videos, view them, comment on them and like them. This social network is accessible across the globe. May
provide information about where a person has been which will lead to connections with community
activities or clubs.
www.twitter.com
This social networking site enables one to post short text messages (called tweets), containing a limited
number of characters to convey a message to the world. With the growing craze for online shopping, Twitter
also makes it possible to promote your businesses and even shop directly through tweets. This opens the door
for searches

SOCIAL MEDIA SITES OF VALUE
TO CREDIT EXECUTIVES
www.owler.com
Owler is the community-based competitive insights platform that business professionals
use to outsmart their competition and uncover the latest industry news and alerts. These
may include information such as private company revenue estimates and CEO approval
ratings
www.snapchat.com
This is an image messaging social platform created to enable friends to chat by using pictures. However, it
allows one to explore news and even check out live stories that are happening around the world.

OTHER SITES OF VALUE
TO CREDIT EXECUTIVES
www.corporationwiki.com
Provides information on corporations and the related officers or owners. Often enables one to obtain information about other
businesses owned by the same people
https://www.alignable.com
Alignable is the free network where small business owners build trusted relationships and generate referrals.
www.yelp.com
Reviews about local businesses generally posted by users of that businesses. Reviews may be positive or negative. Small
businesses often post information about their business.
www.Zillow.com
May obtain information about the residence of a business owner and value of that property

THINK BEFORE YOU POST
 “…social media may serve as a beneficial aid in
most cases, one silly move on Facebook can also
send you downhill fast” [aviation.com June 30,
2015]
 Asking for a personal day to attend a funeral, then
posting pictures of your day’s adventure on
Facebook.
 Applying for admission to a licensing agency and
posting pictures of your excessive drinking (or
having friends tag you in their pictures).
 Tweeting about your customer, your strategy, or
the other side. (Ever heard of re-tweeting?)

“FRIENDING”
 You can’t lie.
 You need to be clear about who you are when
you send out a “friend” request.
 May you “view” someone’s facebook page to learn as much as you
can about that person?
 May you check someone out on Linkedin to learn what you can
about that person?

PUBLISHED CONSEQUENCES
OF VIRAL SOCIAL MEDIA
 Anonymous posting of negative comments by officer of Whole Foods
about Wild Oats, a competitor shortly before it made an offer to buy that
competitor
 Anonymous blog asked “why would anyone want to buy the stock of Wild
Oats?”
 The Federal Trade Commission moved to block the sale on antitrust grounds
asserting the merger would create a monopoly
 During FTC investigation, the anonymous poster was found to be an officer of
Whole Foods
 Ultimately, the merger was approved
 Aeroflot flight attendant photo flashing her finger at passenger caused
her termination
 Ultimately she was rehired after numerous requests
 Spirit flight attendant photo sitting in airplane engine caused numerous
complaints from passengers
 Ultimate outcome unknown

ANONYMITY DOES NOT
PROTECT THE OFFENDER
 Courts have upheld subpoenas requiring the
disclosure of those posting defamatory or
derogatory comments on social media
 No First Amendment Protection
 “Individuals choosing to harm another … through
speech on the Internet cannot hope to shield their
identity and avoid punishment through invocation of
the First Amendment.” [Imunomedics, Inc. v. Doe,
342 N.J. Super. 160,167 [App. Div. 2001]

BLOGGING

BLOGGING AND
DISCOVERY

BLOGGING
PROS
 It’s actually pretty
easy.
 Great way to get your
name out.
 It’s pretty cheap, too.
CONS
 Some states consider
blogging to be
“advertising.”
 Dormant ones don’t do
you much good.
 Be careful about who,
if anyone, gets to
“comment.”
 Anonymous
commenters are often
really, really annoying.
 Don’t forget to check
your insurance.

ACCIDENTS HAPPEN
 2011, a Google engineer (Steve Yegge) accidentally released to
all Google subscribers a 4,550-word critique of Google which was
meant for internal use only
 Interviewed subsequently, even Yegge did not know how the
“rant” got out
 He took it down BUT
 NOTHING DIES ON THE INTERNET
 He apologized to Google the next day
 He praised Google as being a terrific place to work
 He was not fired
 In July , 2011, it was “rumored” that Yegge had “quit” Google
 This was based on verbiage taken out of context
 Another blog post said “Steve Yegge quits in the middle of a
speech”
 Steve Yegge had only quit a project, not Google
 Steve Yegge is still an engineer and programmer at Google

THE SPEED OF SOCIAL MEDIA
 Stories posted on Electronic Media move so fast that by
the time a story is pulled, the damage may already be
done
 In 2013 after the Boston Marathon bombings
 Online investigators named a student who had
disappeared from his home the previous month, citing
some curious social media messages posted by his family.
 In the end, he turned out to be innocent of the crime,
 but he was only cleared after the real suspects were
named and after his family suffered considerable stress
from the resulting public attention.

DEFAMATION CAUSES OF
ACTION
 Assertion of a false statement of another
 Content
 Fair and natural meaning [of the statement] that will be
given by persons of ordinary intelligence
 Verifiability
 Consideration of whether the statement is one of fact
or opinion
 Context
 Words that subject a person to ridicule or contempt, or
that clearly sound to the disreputation of an individual

PUBLICATION OF A
DEFAMATORY STATEMENT
 Publication of that statement to a third party
 Verbal statements
 Statements posted to Linkedin
 Statements posted to Facebook
 Statements sent via a Twitter account
 Statements posted on a blog
 Other Social media

ANONYMITY DOES NOT
PROTECT THE OFFENDER
 Courts have upheld subpoenas requiring the
disclosure of those posting defamatory or
derogatory comments on social media
 No First Amendment Protection
 “Individuals choosing to harm another … through
speech on the Internet cannot hope to shield their
identity and avoid punishment through invocation of
the First Amendment.” [Imunomedics, Inc. v. Doe,
342 N.J. Super. 160,167 [App. Div. 2001]

“FRIENDING”
 You can’t lie.
 You need to be clear about who you are when you
send out a “friend” request.
 May you “view” someone’s facebook page to learn
as much as you can about that person?
 May you check someone out on Linkedin to learn
what you can about that person?

CARELESSNESS CAN LEAD
TO PROBLEMS
 People are more casual when posting to a blog or
facebook than when writing a letter
 You never know who is reading what you have
posted
 It could be a future employer
 It could be your current employer
 It could be your customer
 It could be your fellow trade credit group member

OFFICE COMPUTERS ARE
NOT PRIVATE
 Anything you do online via your desktop is
available to be seen by your employer
 Nothing you save to your desktop is private
 The computer belongs to your employer and so does
its content
 Even personal photos or emails are open to
inspection or being taken by your employer
 This is true also for cell phones, laptops, iPads,
tablets, etc. owned by the company

INTERNET USE CAN LEAD
TO BEING HACKED
 Attachments
 Do you know/trust the sender?
 Did you request the attachment?
 Were you anticipating receiving an
attachment?
 IF NOT – don’t open it

INTERNET USE CAN LEAD
TO BEING HACKED
 Emails
 Do not open an email which contains an attachment
unless you know the sender
 Do not open links within emails unless you know the
sender and trust him/her
 Do not transmit confidential information via email that
can be intercepted

Sometimes it’s the person, and
sometimes it’s the situation.
 Smart people do dumb things because of certain hard-
wired cognitive errors.
 Mix of psychological and sociological errors.
 Cognitive dissonance error.
 Diffusion of responsibility error.
 Social pressure error.
 Anchoring error.
 You combine these four and you get “the person and the
situation” examples.

COGNITIVE DISSONANCE.
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“I am a good
person.”
“I am doing a
bad thing.”
“There’s a good
reason I’m doing
this.”

WHEN IT COMES TO COGNITIVE
DISSONANCE,
THERE ARE NO LOBSTERS, ONLY FROGS.

OTHER PERSONAL AND
GROUP
COGNITIVE ERRORS:
 Diffusion of responsibility and the bystander effect
 “Someone else will do it”

HOW COGNITIVE ERRORS CAN
AFFECT YOUR BEHAVIOR.
 Talking yourself into believing that something you
did was OK, even when it wasn’t OK.
 Assuming that, if you discover a problem,
everyone else knows it, too, so you don’t have to
act on your discovery.
 Letting “everyone else does it” determine whether
you do it, too.
 Focusing on one factor and ignoring all others.

NOW LET’S TAKE A LOOK AT
SOME CYBERSECURITY ISSUES

DATA SECURITY
 Data security is everyone’s responsibility.
 Includes how we securely store, access,
process, transmit, archive and ultimately
destroy sensitive information.
 Follow procedures to make sure we are in
compliance with company policies, regulations
and standards intended to protect information.

WAYS YOU CAN SUPPORT
DATA SECURITY:
 Recognize sensitivity of information we are working with.
 Expected to know and respect boundaries
 Only use systems authorized by organization to handle sensitive
information.
 Do not copy or store to unauthorized system or account, such as
personal laptop or email account.
 Only used licensed software.
 Cloud services are not to be used for storing sensitive information unless
you have prior approval.
 Secure sensitive information in physical form, such as keeping
documents on desk in a folder and storing in locked cabinet when
leaving.
 Use screen lock on computer when leaving work station.

DATA SECURITY (CONT.)
 If someone calls or emails asking for sensitive
information, authenticate the person first using approved
procedures.
 When sending information, use secure methods to make
data inaccessible to unauthorized users, such as using
strong encryption.
 Use of removeable media or portable electronic devices,
such as USB Flash Drives or external hard drives.
 Only use them with prior approval and encrypt sensitive data
with approved encryption software.
 Protect these devices, because they can be used by cyber
attackers to infect computer systems.
 If working with 3rd party vendor, need to know that data is
protected.

EMAIL, PHISHING AND
MESSAGING
 Phishing is a social engineering attack that uses email
or messaging the same way that bait is used to catch a
fish.
 Cyber attackers send millions of emails in hopes that
someone will take the bait. The emails attempt to fool
you into taking action, such as clicking on a link or
opening an attachment or completing a form.
 Example is a message requiring immediate action, such as
threatening to close down your online account or fining
you large amounts of money.
 A more sophisticated method, called spear phishing,
targets individuals.
 Five people in finance department are targeted with a
fake invoice request.
 These attacks are harder to detect.

SUSPICIOUS SIGNS OF
PHISHING ATTACKS:
 Messages addressed to Dear Customer, or other
generic greeting.
 Messages requesting immediate action, or sense of
urgency, such as threatening to close your account.
 Messages claiming to be from official organization,
but have spelling or grammar mistakes, or come
from a Gmail, Yahoo or Hotmail account.
 Messages requesting highly sensitive information,
such as credit card number or password.
 Messages from an email you recognize, but the tone
is strange or unusual sense of urgency. Call to verify
the person really sent the request.

PHISHING ATTACK SIGNS:
 Before clicking on a link, hover your mouse cursor
over the link to display it’s true destination, so you
can confirm you are being directed to a legitimate
website.
 On many mobile devices, pressing and holding the
link will also show you the true destination.
 Type website’s address into browser to see if it’s
valid.
 When messages have attachments, only open
attachments you have been expecting or you know
are from a legitimate source.
 Be careful with Email “Reply All” feature.

HACKED
 Hackers are extremely persistent. The faster you can
recognize the signs of a hacked system, and the
faster you notify someone for support, the less
damage the cyber hackers can do.
 Most common signs of a hacked computer:
 Anti-virus has triggered an alert that system is infected
 unable to remove or quarantine infected files
 You get pop up message that says computer is now
encrypted and you must pay a ransom to recover it
 Your computer is infected and you must call a tech
representative to fix it
 There are new accounts on your device that you did
not create, or
 There are new programs running that you did not
install.

REPORT THESE CONDITIONS
IMMEDIATELY:
 Browser is taking you to unwanted or random
websites and you cannot close them.
 Your password no longer works. Cyber attackers will
change your password after they hack in so they
maintain control.
 Friends or coworkers are receiving odd messages from
you that you know you never sent.
 Mobile device is causing unauthorized charges to
premium SMS numbers, or has unexplained very high
data or battery usage.
 You can accidentally install suspicious software from a
pop up ad.
 Do NOT attempt to fix yourself. Contact Help Desk or IS
team ASAP.

INSIDER THREAT
 A trusted member of our organization who causes
harm on purpose.
 Has physical access to our systems.
 Suspicious behaviors include:
 Someone asking for access to information you know
they don’t have access to or asking you to bypass
normal procedures.
 Someone accessing or transmitting a large number of
files outside the organization.
 Carrying out file boxes
 Uploading large amount of data on thumb drive

SIGNS OF INSIDER THREATS:
 Someone accessing systems remotely at strange
hours or coming into office when they are not
scheduled for work.
 Someone trying to access an unauthorized
account, such as a co-worker’s computer.
 Someone who changes behavior or work
performance.
 Shows up to work late, falling behind on
assignments, avoiding interactions, argues with
supervisors, or brags how good they are and how
they could cause harm to the company

HOW TO MINIMIZE IMPACT
OF INSIDER THREAT:
 Only give people access to data that you are
responsible for and when it is required for their
job function.
 File access should be reviewed on a regular basis.
 Store sensitive information in appropriate location
(locking file cabinet or approve encrypted drive).
 Always lock your computer when leaving work
station.
 Never share your password or access credentials
with anyone, including your supervisor.
 If something is suspicious to you, report it.

MALWARE
 Software that is used to perform malicious actions on any
operating system
 Viruses, Trojans, Worms or Ransomware
 Malware is commonly used to:
 Silently watch or spy on your online activities
 Capture every keystroke to steal your passwords and files
(Key Logger)
 Use your system to attack others.
 Ransomware - encrypts and locks your files and demands
a ransom
 No guarantee you will get your files back if you pay.
 If you don’t have backups, your data can be permanently
gone.
 Best defense against Malware is common sense. If
something seems odd or suspicious or too good to be true
(lottery), it may be a cyber attack.

PHYSICAL SECURITY
 Easier to physically steal stuff than it is to steal
electronically.
 Pretend to be a contractor or technician, then sit at
someone’s desk.
 Someone can go through trash bins or garbage dumpsters.
To protect against an attacker from entering a facility.
 Only authorized people are allowed to enter.
 Employees should require badges to enter.
 Guests required to log in and out, and must be escorted by
employee.
 Don’t leave doors open.
 Secure and destroy documents appropriately.

SOCIAL ENGINEERING
 The art of human manipulation. It is a technique
used to trick people into sharing information they
should not share.
 Pretending to be someone or something you know
and trust, such as your credit card company, a
government organization, or a coworker.
 Having gained your trust, the attacker then exploits
it to get what they want, simply by asking for it.
 Two common types:
1. Call from tax department, you will be arrested if tax
not paid in 24 hours.
2. Email from boss saying laptop died and wants you to
email company employee list to their personal email
account.

SOCIAL ENGINEERING (CONT.)
 Signs of social engineering attack:
 If someone asks you for information they should not
have access to.
 If they are using confusing or technical terms.
 If they ask you to bypass or ignore normal security
procedures.
 If they create a tremendous sense of urgency!
 If you feel you are under attack, simply hang up or
call your IT Support Desk right away.

SOCIAL NETWORKS
 Protect each account with strong unique password.
 When posting, assume anything you post will become public.
 Privacy controls can help, but can be confusing and the site has the
ability to change them often, so need to keep updating them.
 Track what people post about you and ask them to be considerate
about your privacy.
 If something bad is posted about you, contact social network’s
website abuse department and ask to have the post removed.
 Hackers may post messages that seem like they are from your
friend, but they are not. Call your friend directly to confirm the
post.
 Don’t include personal contact information in your posts or your
profile;
 remove phone numbers, home address and birthdates

TARGETED ATTACKS
 APT – Advanced Persistent Threat
 Highly trained and organized, could be funded by an organization
or foreign government.
 Attackers spend considerable time researching targets before
launching attack.
 They will read Linked In and Facebook profiles, etc.
 Once information is collected, they decide their method of attack.
 Spearphishing – to make email very convincing it is from someone
you know.
 Cybercriminal asks you to send money or confidential files.
 Infected attachment gives hacker total control of computer.
 Limit the amount of confidential and personal information you post
on the internet.

WORKING REMOTELY
 Only use organization approved devices while working remotely.
 Only allow authorized persons to use devices (not kids).
 Don’t leave device unattended at conference.
 Don’t forget device in hotel, car, airport.
 Lock device with PIN code.
 When working in public place, like airport lobby, coffee shop, hotel,
other people may be able to monitor your online activities or hack into
your device.
 Make sure browser and email are using encryption when connecting to
internet.
 If device supports VPN capabilities, you may be required to use them.
 Protect device by regularly updating OS and applications.
 Never allow others to connect their devices (phones/USB drives) to your
laptop.

RESOURCES
 How to Protect Your Business Against Fraud – Elizabeth
Wasserman.
 10 Ways to Prevent Identity Theft –Staples.com
 Common Fraud Schemes – FBI.gov
 Business Credit – December 2013
 SANS Institute - Advanced Cybersecurity Learning Platform

FINAL WORDS:
 Social Media can be very useful in today’s personal and
business world
 It’s nice to be connected via social networks.
 BUT, the more sites to which you connect expands the
risk of cyber “theft”.
 JUST BE AWARE!!!!

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WANDA BORGES
 WANDA BORGES, the principal member of Borges & Associates, LLC., has been
specializing in commercial insolvency practice and commercial litigation
representing corporate clients throughout the United States for an excess of
thirty years.
 She is admitted to practice before the courts of the State of New York and the
United States District Court for the Southern, Eastern, Northern and Western
Districts of New York, the United States District Court for the District of
Connecticut, the United States District Court for the Eastern District of
Michigan, the Second Circuit Court of Appeals and the Supreme Court of the
United States. She is a member of several professional organizations,
including the American Bar Association, American Bankruptcy Institute. As a
member of the Commercial Law League of America, she is a Past President of
the League, is a Past Chair of its Bankruptcy Section, is a past Chair of the
Creditors’ Rights Section and currently serves on the Bankruptcy Section and
Creditors’ Rights Section Executive Council She is the current Chair of the
Board of Associate Editors for the Commercial Law World and other CLLA
publications.


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WANDA BORGES
 She is a regular lecturer for the National Association of Credit Management
(NACM) and its various affiliates. She has prepared and continues to update
courses on "Advanced Issues in Bankruptcy", "Basics in Bankruptcy", "Current
Cases in Bankruptcy", "Creditor's Committees", "Credit and Collection Issues",
Sarbanes-Oxley Act of 2002, “Litigation Issues” and "Antitrust Issues" which
have been presented at past NACM Annual Credit Congresses and at trade credit
association meetings. Even prior to the passage of the “Red Flags Rule”, Ms.
Borges worked with the NACM and the FTC to determine the applicability of the
Rule to business creditors. Ms. Borges has prepared and presents seminars on
the Red Flags compliance issues for the NACM, its various affiliates,
corporations, collection agencies and various other organizations. Ms. Borges
is a faculty member for the NACM's Graduate School of Credit and Financial
Management at Dartmouth College. Ms. Borges has been a faculty member for
the National Institute on Credit Management, a program jointly sponsored by
the Commercial Law League of America and the National Association of Credit
Management

68
WANDA BORGES
 She has been a regular lecturer for the American Management Association on the
Uniform Commercial Code and Fundamentals of Business Law for the Non-
Lawyer, and for both the American Management Association, the Media
Financial Management Association (formerly the Broadcast Cable Financial
Management Association) and the Broadcast Cable Credit Association on
Creditor's Rights in Commercial Litigation and Bankruptcy Matters.
Additionally, she has presented seminars and webinars for the National
Conference of Bankruptcy Judges, the American Bankruptcy Institute, The
Commercial Law League of America, The International Association of
Commercial Collectors, various local and national Bar Associations, Thomson
West Publishing Company, the New York State Food Service Distributors
Association and Riemer Reporting Service.
 Ms. Borges frequently presents live seminars, tele-seminars and webinars for
various trade credit groups, many of whom are managed by NACM Affiliate
Associations. Additionally, she has prepared and presented these educational
programs for the American Automotive Leasing Association, the National
Chemical Credit Association, the National Cement Trade Credit Group, the
Health Industry Manufacturers Association, the Beauty and Barber
Manufacturers Credit Association, the New Hampshire Association of
Broadcasters and the Credit Association for Satellite History.

69
WANDA BORGES
 She has served as the Managing Editor and still is one of the contributing
authors of the Manual of Credit and Collection Laws published by the
National Association of Credit Management and is a contributing author to
its Principles of Business Credit.. She is a member of NACM’s Editorial
Advisory Committee. She is an Associate Editor for the Commercial Law
League of America's magazine “The Commercial Law World” and has
contributed to the CLLA’s Law Journal and the Bankruptcy Section
Newsletter. Her treatise Hidden Liens: Who is Entitled to What? was
published in the Fall, 1998 Edition of the Commercial Law Journal. She has
authored Antitrust, Restraint of Trade and Unfair Competition: Myth Versus
Reality, published by the NACM. Ms. Borges is the lead author and Editor-in-
Chief of Enforcing Judgments and Collecting Debts in New York published by
Thomson West Publishing Company and updated annually. She routinely
publishes articles for the National Association of Credit Management
“Business Credit” magazine and has published articles for its “Fraud
Prevention News”. Upon the passage of the BAPCPA in 2005, Ms. Borges
prepared and presents educational programs on this new legislation and co-
authored The Bankruptcy Abuse Prevention and Consumer Protection Act of
2005 – An Overhaul of U.S. Bankruptcy Law, published by the NACM.

70
WANDA BORGES
 She has published articles for the Broadcast Cable Credit Association
"Creditopic$" and the “The Financial Manager” on Commercial
Creditors' Rights in Bankruptcy, Bankruptcy issues generally, the FTC’s
Red Flags Rule, the ECOA and Regulation B, Electronic Invoicing, "Dot
Com" Businesses, and on Advertiser/Agency Liability; and has prepared
the "white paper" on the discontinuance of notarization of broadcast
invoices. She is a co-author of the National Association of
Broadcasters' book Out of the Red and into the Black, as well as the
Broadcast Cable Credit Association's Credit & Collection Handbook. Ms.
Borges has appeared as a guest on the Fox News Channel program, "Fox
on Consumers", speaking on consumer bankruptcy exemptions. In
February, 2010, Ms. Borges prepared and presented a program entitled
“Avoiding Bankruptcy Pitfalls: Creditors’ Rights and Professional
Obligations in Bankruptcy Proceedings” for the Georgia Bar Association
and the Institute of Continuing Legal Education in Georgia” which was
televised live and telecasted to satellite locations throughout the State
of Georgia.

71
WANDA BORGES
 She has conducted "in-house" seminars on credit, collection, secured
transactions and insolvency for corporate clients such as Agrium, Inc.,
Bristol-Myers Squibb, Burlington Industries, Inc., Cosmair, Inc., Doric
Enterprises, Ferguson Enterprises, Inc., Ingram, Mars Incorporated,
McKesson Corporation, Mobil Chemical Company, Multi-Arc Corp., Pfizer
Inc., R.J. Reynolds Tobacco Company, Sandvik, Inc., Sharp Electronics
Corporation, Simon & Schuster Corp., SONY Corporation, Southeastern
Freight Lines, Inc., Stanley Works, Sumitomo Corporation and SunTrust
Bank.
 She is a past Chair of the Board of Trustees of Mercy College and served
as a member of that board for nine years. She has served on the board
of Regents College, and has taught Business Law at Seton College in
Westchester County, New York. She is a past Chair of the Broadcast
Cable Financial Management Association.

72
WANDA BORGES
 Ms. Borges actively participates in community events. She is a Leader of Song and has
directed the Youth Music Ministry at her parish, Our Lady Star of the Sea. She remains a
member of the Fairfield County Chorale for which she served as its president for the years
1995 through 1997, as a director and Executive Vice-President of the Fairfield County Chorale
during the years 2012 through 2013 and is again a director on its Board of Directors for the
upcoming years through 2020.
 She received the "Human Valor" Award by Noticias del Mundo, a New York based spanish-
language newspaper in 1985, the Mercy College Alumni Association's "Professional
Achievement" Award in 1991, honorary membership in Delta Mu Delta - The National Honor
Society in Business Administration - in May, 1995 and in October, 1996, was awarded the
Mercy College Trustee's Medal for outstanding dedication to her profession and alma mater.
She is listed in Who's Who of American Women. In September, 2000 she was named one of the
"50 Outstanding Alumni" of Mercy College. In February, 2001 she received the "Career
Achievement Award" from the Broadcast Cable Credit Association. In May, 2004, she received
the “Strength in Numbers Recognition Certificate” from the NACM. In December 2006, she was
named one of “2006 Top25 Most Influential Collection Professionals” by Collection Advisor
Magazine. Ms. Borges was recently inducted into Mercy College’s Alumni Hall of Fame
celebrating its 60th year in existence. In November, 2010, Ms. Borges received the “Robert E.
Caine Award for Leadership” from the Commercial Law League of America. Ms. Borges has
been included on the New York Super Lawyers – Metro Edition list (Bankruptcy &
Creditor/Debtor Rights) each year since 2009. Ms. Borges received a “Woman of Distinction”
Award from St. Catharine Academy in April, 2015.

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