A survey released Thursday by America's Community Bankers finds that thrifts are eradicating the millennium computer bug from their own systems, but are doing little to verify that business borrowers are year-2000 compliant.

Of the more than 600 thrifts polled, 98% said they have appointed a senior official to coordinate year-2000 corrections and 97% have discussed the millennium bug with their boards. Also, 83% have written compliance plans and two-thirds either have or are developing contingency plans in case their systems are not ready.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.