"The date you submitted is not valid"

Just updated to 2.10.1 and whenever I create a new posts it sets the new entry date in the format of “mm/dd/yy” even though my Admin -> Localization -> Date Format is set to “mm/dd/yyyy”. This is causing huge problems as editors are not able to save because they get an error - “The date you submitted is not valid.” when hitting submit and have to change the year from 2 digits to 4. I tried looking in the DB but couldn’t figure out how the date is store/formatted to show. Any direction in this regard would be greatly appreciated.