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ARLINGTON, Va.-NAFCU has launched a newsletter to keep busy credit union executives up-to-date on the Bank Secrecy Act in a short and to-the-point manner. The BSA Blast is just that-a blast of the basic information for readers to investigate more in depth on their own time. The monthly two-page newsletter provides a calendar with dates and blurbs on recent BSA-related items issued by the regulators including links for where to go online for more information. It also has a portion in Q&A format that answers questions to common BSA-related scenarios. For example, one question asks if a member deposits $7,500 in the morning and withdraws $3,000 by afternoon, does a Currency Transaction Report need to be filed? The answer provided is `no’ with a basic explanation that `cash in’ is regarded separately from `cash out.’ However, filing a Suspicious Activity Report may be necessary.

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