Last week, NCUA issued two prohibition orders against individuals. You can access a press release about it here.
This makes me think of a good analogy that a good friend and security expert gave me once. He indicated that some credit unions build their security systems much like the castles of old. The walls are thick and heavily manned. But if you can get through the wall, there is little security to monitor what happens inside.
These prohibition orders are a good reminder that credit unions should focus their security programs on external and internal threats.
Can you feel it? The stress? The anxiety? That's right - today marks the beginning of the 2008 NAFCU Regulatory Compliance School! More than 120 compliance professionals are rolling up there sleeves, sucking down some coffee, and learning about the credit union regulatory environment. They have five jam-packed days ahead of them. For you NCCO's out there, you know what they are going through. Wish them well!