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WASHINGTON-While no information exists at this time to raise the terror threat level to `severe’ or red, the financial services industry is not taking any chances. The Financial and Banking Information Infrastructure Committee announced last week that it is developing guidance for the possible scenario. Additionally, the Financial Services Sector Coordinating Council, a private industry group including CUNA and NAFCU, is creating a list of actions tailored for the financial services sector. In the meantime, FBIIC has put together an interim guidance. The interim guidance stressed that consumers have entrusted their assets to financial institutions and the importance of maintaining their confidence by making every effort, without subjecting anyone to danger and within the law, to ensure continuity in operations. Financial institutions should also consider the situation and circumstances surrounding the change in the threat level to determine if additional action should be taken. At a minimum, the `orange’ threat level guidance issued by the Department of Homeland Security should be reviewed. NCUA has posted the interim guidance on its Web site.

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