"FDIC plans campaign to calm Y2K fears"

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FDIC plans campaign to calm Y2K fears

Monday, March 29, 1999

Knight Ridder Newspapers

The federal government, concerned that consumers are afraid banks will collapse or have computer problems on the first day of the year 2000, is planning a media blitz to put people's fears to rest.

Donna Tanoue, chairman of the Federal Deposit Insurance Corp., told a group of bankers in San Francisco earlier this month that the FDIC will travel to several cities, beginning with New York next month, to talk to newspapers and other media in an effort to calm people's fears.

An FDIC spokesman said the agency did not know how much the campaign would cost.

"Why the urgency?" Tanoue asked. She cited a Gallup poll last week that found that more than half of Americans still think banking systems will fail on Jan. 1.

Bankers have tried to assure customers that there will be no problem on Jan. 1. But, as Tanoue told the assembly of The Independent Bankers Association of America, the public is looking for an official source beyond the banks themselves to assure them that their money is safe.

"People look to us for that confidence," said David Barr, a spokesman for the FDIC in Washington. "Because banks have not done a good job squashing that bug [fear of the Y2K problem], we've got to get it out there."


-- Kevin (mixesmusic@worldnet.att.net), March 30, 1999


I don't care what they say or who says it! The prudent person will have his/her money out of banks no later than October 15. I realize that it may become a self fulfilling situation, but they are not going to have MY money to play their y2k games. I put bankers right up there with used car salesmen, insurance salesmen, lawyers, and other shysters. I have already quit using the checking acc't except to pay my Visa bill. I put in only enuff to cover any bills that I wish to pay. The rest of hubby's pay is converted to cash, most of which is tucked away. I will leave $100 in the acc't for the roll over just so I can monitor the bank's situation after Jan 1.

Gotta lump in that mattress??

-- Taz (Tassie@aol.com), March 30, 1999.

Be sure to compare the story about the FDIC with this one...


"Reuters: Fed sees possible complications from Y2K"

-- Kevin (mixesmusic@worldnet.att.net), March 30, 1999.

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