SAFE Act; NCUA Board Meeting Agenda; Creative Money Laundering; Deflation; When You Wish Upon Penn State
As we've discussed earlier, NCUA expects you to have a SAFE Act policy in place by October 1, 2010.  Also, as mentioned earlier, a NAFCU member was gracious enough to donate their SAFE Act policy to the NAFCU policy exchange library. (NAFCU Member log-in needed.)
Well, our good friends at BankersOnline.com have also provided a model policy and a model set of procedures.  They stress, and rightly so, that the policies are just drafts. You have the ultimate responsibility to ensure that the policy and procedures fit your shop.
***
NCUA has release the agenda for next week's NCUA Board Meeting.
***
I just love Felix Salmon.  The guy is a voracious reader, and his analytical skills are very impressive.He occasionally writes about financial issues.  In this post,  he discusses a recent book that he read where a character launders money by building a resort that is never used.  Does it seem far-fetched?  Read the post and answer that question for yourself.  In any event, it is a good reminder that organized crime is always looking for ways to launder money.  If they can find a way to do it at your credit union and go undetected, they surely will.
***
You may have heard about the risk of deflation. Â Just what is it, and what's the big deal? Mint.com has created a wonderful visual guide to the concept of deflation. Â This could be a good thing to share should a director or other official have questions on how deflation might affect the U.S. economy.
***
Have a great weekend, everyone. Â Even you Crimson Tide fans. I will be rubbing my lucky penny and uttering the following wish Saturday evening.
Please forget my last wish that dealt with Regulation Z and the Federal Reserve. Â I'm sure they are nice folks at the Fed, and I apologize for using that language to describe them. Â In place of that wish, I insert the following. I wish that Penn State beats Alabama today. Â I understand that the world has major problems, including world hunger, unemployment, the Gulf of Mexico's ecosystem, and reality television. Â But in the midst of granting wishes for those things, I'm sure no one would notice if you granted my wish concerning a little old football game. And if Alabama fans make any wishes to the contrary, please ignore them. Â Remember, you granted their wish last year.