RBC's Debacle

Remember the RBC debacle back in June? It affected about 10 million customers -- impacted payroll deposits -- and was all a result of programming errors introduced by a developer. The code just wasn't tested sufficiently, introduced during the week -- during the peak hours -- all things that shouldn't happen in the banking industry. Further, when criminal-types heard the news, they pounced immediately with phishing attacks, sending RBC customers to fake sites to collect their account information. RBC is considering dropping service fees for the month of June to compensate customers -- that would cost them $165 million in revenue. They haven't said what they're going to do with the employee yet, but I sense a flailing, with the right dose of tar-and-feathering, and maybe even stoning to happen.