H.R. 3116 · 105th Congress · enacted
Examination Parity and Year 2000 Readiness for Financial Institutions Act
Became Public Law No: 105-164.
Latest official action 1998-03-20 · Enacted
The bill, briefly
Examination Parity and Year 2000 Readiness for Financial Institutions Act - Requires each Federal banking agency and the National Credit Union Administration Board (Board) to offer seminars to all depository institutions and insured credit unions under their respective jurisdictions on the implication of the Year 2000 computer problem for: (1) the safety and soundness of such institutions; and (2) their transactions with other financial institutions (including Federal reserve banks and Federal home loan banks). Requires such agencies and the Board to make available to all the institutions under their jurisdiction model approaches to common Year 2000 computer problems with regard to project management, vendor contracts, testing regimes, and business continuity planning. Defines Year 2000 computer problem as any problem which prevents information technology from accurately processing, calculating, comparing, or sequencing date or time data: (1) from, into, or between the 20th and 21st centuries, or the years 1999 and 2000; or (2) with regard to leap year calculations. Amends the Home Owners' Loan Act to place under the regulatory authority of the Director of the Office of Thrift Supervision a service corporation or subsidiary owned by a savings association. Permits the Director to authorize any other Federal banking agency to examine the service corporation or subsidiary if the a…
Congressional Research Service · 1998-02-24
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Politicians behind the bill
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5 of 5 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.
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What happened after enactment?
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Measured outcome: not established
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