The House approved a bill Tuesday that gives thrift and credit union regulators broader examination powers for year-2000 computer problems.
Sponsored by Banking Committee Chairman Jim Leach, the legislation lets the Office of Thrift Supervision and the National Credit Union Administration examine vendors of software and data processing services. Bank regulators already have this power. Under the bill, the NCUA would lose this added examination power after Dec. 31, 2001.
The bill also requires regulators to offer seminars to financial institutions on the year-2000 problem.
Sens. Bob Bennett, R-Utah, and Chris Dodd, D-Conn., introduced similar legislation in the Senate on Tuesday.