INDEPTH: BANKING
Timeline: Royal Bank computer problems
CBC News Online | June 9, 2004
Wednesday, June 2, 2004: A computer problem at the Royal Bank affects millions of its customers. The bank says transactions from Monday and Tuesday may not have been recorded because of a problem that occurred during an update to their computer systems.
The bank says it will recover by Thursday and issues an apology. "We recognize this has caused not only our own clients but also clients of some other institutions considerable inconvenience and for this we sincerely apologize," says Rod Pennycook, executive vice-president of the bank, in a statement.
CBC News: Royal apologizes for computer glitch
Up to 6,000 public employees in Newfoundland aren't paid because of the Royal computer problems.
CBC Newfoundland: Payday was nayday after computer crash
Thursday, June 3, 2004: The bank says it will take until the weekend to get transactions up-to-date. It says any service fees or overdraft charges that occur as a result of the disruption will be waived.
CBC News: Transaction delay will take until weekend to clear: Royal Bank
Thousands of teachers in Nova Scotia don't receive their paycheques on time.
CBC Nova Scotia: Bank glitch leaves teachers payless
Friday, June 4, 2004: The Royal Bank extends its hours and plans to open more branches across Canada on Saturday to deal with the disrupted transactions.
CBC News: Royal Bank to extend hours due to computer problem
Government employees across the country fail to receive their pay because of the computer problems.
CBC North: Pay-day delayed by Royal Bank glitch
CBC Saskatchewan: Bank computer glitch delays paycheques
CBC P.E.I.: Public employees wait for their pay
CBC New Brunswick: Bank glitch leaves doctors $8 million short
Saturday, June 5, 2004: Full-page ads appear in national newspapers apologizing for the computer problems, signed by the Royal Bank's Ontario banking chief, Gay Mitchell.
Sunday, June 6, 2004: The Royal Bank's chief information officer says its clients' balances should be up-to-date by Monday morning.
CBC News: Royal says bank accounts should be back to normal on Monday
Monday, June 7, 2004: A Royal Bank spokesperson says the bank is returning to a normal schedule, although there may still be isolated disruptions in its service. Some Royal Bank customers in Halifax say their bank cards were deactivated over the weekend. A spokesperson for the bank says some cards were deactivated because of a fraud investigation.
CBC Nova Scotia: More problems for Royal Bank
Wednesday, June 9, 2004: Royal Bank warns its customers of an e-mail scam asking for their personal and account information. The e-mail appears to be from the Royal Bank and threatens to block the recipient's account if he or she doesn't enter the information. The e-mail links to a web page that looks like the Royal Bank website. A spokesperson says someone is trying to take advantage of the publicity surrounding the bank's computer problems.
A Quebec lawyer for a Royal Bank customer seeks permission to file a class-action lawsuit against the bank, seeking $500 for each customer for trouble and stress caused by the computer problems.
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