Banks - Chevy Chase Bank, others - Y2k problems using Quicken financial software

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CHEVY CHASE BANK - 2000.01.08

Y2K Glitches Affect Financial Software: Chevy Chase, Others Have a Few Snags

"... Locally, Chevy Chase Bank's online customers hit snags in using the Windows versions of Quicken 99 and Quicken 2000. Bank officials said they spent two years doing extensive Y2K testing of Quicken systems -- including tests using Quicken 98 -- and found no problems.

They did not run tests using Quicken 99 or Quicken 2000, they said, because those versions of the software were not available at the time Chevy Chase was doing its tests.

'There really was no logical reason to test it [with newer versions],' said Leslie Nicholson, executive vice president and general counsel of Chevy Chase. 'We weren't testing whether their programs worked or not. That was their responsibility.'

Intuit Inc., which makes Quicken, said it told financial institutions that use its programs to update an older coding used to import and export data from banks. But Chevy Chase said it was never warned. Intuit provided a copy of the letter it sent to Chevy Chase dated Oct. 6, 1999 -- a date most Y2K experts say would have been very late to fix -- but bank officials said they didn't receive it. The bank and Intuit Inc., the maker of Quicken, are blaming each other for the problems.

'We tested our online banking system for 2000 and it worked fine,' said Robert Spicer, chief information officer at Chevy Chase. 'We weren't aware of the problem until one of our customers called.' ..."

Source: Washington Post Staff Writer, Saturday, January 8, 2000; Page E01

http://www.washingtonpost.com/wp-srv/WPlate/2000-01/08/157l-010800-idx.html

-- Lee Maloney (leemaloney@hotmail.com), January 16, 2000

Answers

Interesting! My home version of Quicken 3.0 for Macintosh purchased in 1992 works just fine until I try to generate a report with 00 in the date field which indicates which block of time I want the report to cover. Example: 1/1/99 to 1/16/00. However if I enter 01 in the date field I have no problem. Anyone have a suggestion. (I supposed that buying a newer version would help--but after the above article--maybe not).

-- Virginia Hirsch (hirschva@mail.milwaukee.k12.wi.us), January 19, 2000.

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