Year 2000 Computer Problems: Banking
House Banking & Financial Services committee held an hearing where regulatory officials and banking leaders testified about the banking indu… read more
House Banking & Financial Services committee held an hearing where regulatory officials and banking leaders testified about the banking industry’s ability to cope with the year 2000 computer problem. The first panel of regulators talked about how they intended to obtain and maintain public confidence in banks. They generally agreed that it was critical that banks provide the public information on progress made in preventing any glitches in their computer systems. The second panel of officials from community banks also testified about the need to share information with customers. They also urged legislators to restrict litigation against banks which had made a good-faith effort to solve the problem and had provided accurate information on the steps taken to solve the problem. close
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- John Burke Chairman Conference of State Bank Supervisors
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