MY bank says I don't have a thing to worry about!! : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Well I just got thru talking to my bank while ago, with a very nice customer service person. Was told exactly what we know they are gonna say! When asked is our bank going to be ready for 2000 I was told I did not have anything to worry about, the bank was compliant now!! So I asked her if the systems had already been assessed & had they been tested? She positively "gushed" "Oh, they've (?) been working on it since last year & they started testing in Sept & are finished. So everything is going to be just fine. (Her words!) So then I asked about the new FDIC "Know your customer" profiles that the banks are going to have to start doing. I said that I was extremely concerned about was quiet for a few seconds, then she asked me if I could hold a moment...came back on & said she asked her department head about it & "they are aware of it, and are working on it." I asked when this was supposed to go into effect, she said "the end of '99. Asked another question & was told "that's all I can tell you about it." Has anyone else heard when this thing is supposed to take effect? If in fact its true that it won't start until end of '99 then are we getting upset for nothing about it pertaining to y2k? Don't get me wrong, I think its a bad thing no matter what, but maybe they didn't have y2k in mind when they started proposing it in the first place. Some opinions please, I'm kinda confused...(which is my normal state most of the time LOL). I'm also thinking about writing a letter to the bank & requesting written confirmation of the bank being compliant. Any suggestions of some questions to include? Thanks, Donna

-- Donna in Texas (, December 01, 1998


Go talk directly to your branch Vice President and ask very direct questions and ask for written "Bank Approved" (or not approved) back- up documentation for his/her off-the-record assertions.


-- Diane J. Squire (, December 01, 1998.

A Y2K compliant bank? ... Get it in writing!

-- Jack (, December 01, 1998.

No - it's not y2K related - except that it distracts the IT department from remediation efforts.

It is only a direct assault on your privacy by bureacratics who want banks to inspect continuously your bank records and report to them when anything changes. That's all.

Not when you do anything illegal, immoral or fattening. Just when you do something different. Washington wants to know. That's all.

And they are doing this by "order" - no law, no review, no debate. Just by order of the fed's. Oh by the way. The fed's get the info - nobody tells you either. That's all.

Oh by the way. All this money needed to program and sort data and compile it, and send it to Washington so they can spy on you? Washington has told the banks (you - via user fees, and lower returns) that you have to pay for it. That's all.

It's not budgetted, just mandated.

Now - where are the civil libertarians in the Democratic party? All I hear is a vast left-wing conspiracy of silence to spy on you, to steal your right to spend your own money as you see fit.

But it's Clinton-Gore's FDIC chairmen here - of course, that makes it alright. They'd never use that info to silence their opponents would they? They'd never assign the IRS to audit conservatives would they? (Only over 5000 times - and no liberal or labor group has been audited in the last six years.)

Excuse me, I have another letter from the IRS I need to answer. They're charging me a penalty from money I paid on time after my last audit.

-- Robert A. Cook, P.E. (Kennesaw, GA) (, December 01, 1998.

correct me if I'm wrong but I thought the profiling was to start on 27 Dec 1998.As far as compliance with the banks goes. I'm pulling my cash out. If they are right then I lose a little interest. I'f I'm right I have lots of green paper with dead presidents on them.

-- nine (, December 01, 1998.

I don't think you're going to get anywhere talking to any customer service rep. for any company. They're either going to give the canned company answer, they'll make up an answer that sounds good based on their own misinformation, or they're going to be totally clueless. It's a waste of time to even ask. I'm not sure it's even worth talking to the branch V.P. If they know anything they've probably been told to shut up and give you the stock answer.

-- Buddy (DC) (, December 01, 1998.

Buddy, when I first jumped into this forum it was because I read Ed's book and my Bank of America branch V.P. confirmed that they would have problems -- starting this January. Yes, he said they were almost compliant, but the truth has a way of just slipping out. It's worth having a chat.

Never know what they might just talk about with a smiling customer.

-- Diane J. Squire (, December 01, 1998.

Buddy--I agree. They aren't going to tell you anything......... I was not even gonna bother calling, but they have been sending quite a bit of "don't worry be happy" stuff in our statements, even the sign outside says they are taking Y2K "very seriously" & to call for more details. When I called I said that I wanted to speak with who ever was in charge of y2k. They gave me the custormer service rep I spoke with!! sigh

-- Donna in Texas (, December 01, 1998.

Gary North posted a list of questions to ask companies/officials. It was a while ago. Anyone remember seeing it too or what category it was in? I looked around just now (under banking) but counldn't find it.

-- Rob Michaels (, December 01, 1998.

"When is this profiling supposed to go into effect"? I heard by word of mouth that it will Feb 1, l999, and that we have until Dec. 27, 1998 to make our opinions/complaints known to FDIC. What is the verifiable information?

-- Sylvia (in Miss'ippi) (, December 01, 1998.

Jack...your post was just too cool!!!! Love the blinking "Get it in writing!" Some of you guys are just too clever for me...I am still a rookie with this computer thing! But I am getting better. :-)Blondie

-- Blondie Marie (, December 02, 1998.

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