Year 2000 Computing Crisis: Actions Needed to Address Credit Union Systems' Year2000 Problem

摘要

On October 22,1997, we submitted testimony to the Senate Subcommittee onfinancial Services and Technology, Committee on Banking, Housing, and Urban Affairs on the National Credit Union Administration's (NCUA) efforts to ensure that credit union computer systems are ready for the upcoming Year 2000 date change. In our testimony, we reported that while NCUA had made some progress in addressing Year 2000 compliance issues, more needed to be done to ensure that credit unions adequately mitigate Year 2000 risks. This report (1) officially transmits recommendations to assist NCUA in addressing the Year 2000 problem, (2) responds to your comments on our testimony, and (3) recognizes actions NCUA has taken in response to our recommendations. Our testimony, which includes our objective, scope, and methodology, and findings, conclusions, and recommendations, is reprinted in appendix I. Your response to our testimony is reprinted in appendix II.