YEAR 2000 AGREEMENT WITH GLOBAL PAYMENT SYSTEMS LIFTED BY REGULATORS
FOR IMMEDIATE RELEASE PR-75-99 (12-02-99)
Media Contact: David Barr (202) 898-6992
WASHINGTON, D.C., DECEMBER 1, 1999 -- The federal financial institution regulatory agencies announced today the termination of the August 26 agreement with Global Payment Systems LLC, Atlanta, Georgia. The agreement addressed the Year 2000 readiness of Global's credit-card issuing services offered through its Westlake, Ohio, facilities. The agreement was terminated because Global Payment Systems has complied with the terms of the agreement.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 10,327 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.
FDIC press releases and other information, including today's quarterly listing, are available on the Internet via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).