Massachusetts regulators will adopt new year-2000 guidelines this month to make doubly sure that banks and credit unions are preparing.

Though federal guidelines are already in place, Massachusetts will impose its own regulations Jan. 22 to ensure that computer systems at state-chartered institutions will be running smoothly on Jan. 1, 2000. Banks and credit unions that fail to comply with the regulations face penalties that, in the most severe cases, could include the removal of officers and directors.

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.