Retaining Returned "Bad Address" Privacy Notices - Ken Golliher and Carolyn Jones

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Retaining Returned "Bad Address" Privacy Notices
Answer by Ken Golliher and Carolyn Jones, BOL Gurus
Guru BIOS

Question: I would like to know if there are retention requirements for annual privacy notices that have been returned for "bad address." I have a box of them from 2002. I don't know if I need to continue to store them or can they be shredded? I have researched this and can't find this addressed in the Act anywhere.

Answer by Ken Golliher: Regulation P and its parallel regulations do not have any record retention requirements regarding distribution of the privacy notices; you do not have to keep those that are returned to you as undeliverable.

Answer by Carolyn Jones: I agree with Ken.

First published on BankersOnline.com 3/7/05

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