Our bank is located in Alaska and I have searched our state law for how long we are required to hold return mail, but I am not having any luck. Can anyone tell me where else I might find information on record retention for returned mail?

I know of no regulatory guidance. Most banks, after an attempt to locate the customer, note their customer information system that they need a new address and shred all returned mail that can easily be recreated, i.e., account statements, etc.

Thank you. Just wanted to make sure I was thinking correctly.

I would like to re-open this discussion briefly, please. I have researched to try and find an answer and just can't seem to locate one.

The response that Randy gave, does it still stand today?

Is there any guidance on how long returned mail must be kept, mainly for loan billing statements? Our Operations department had been given instructions that we are to keep returned mail forever, that we are never allowed to get rid of it in case a customer would come back on us for something regarding their billing.

Thanks in advance!

Do you not keep electronic copies of all your Billing statements?

I believe we have access to electronic copies.

I just learned we do not have access to electronic copies. I guess we are keeping returned mail.

Does your software not provide for cold storage of notices and reports? If so, you can always go back and regenerate a copy. We do not keep statements, notices, etc because our system will regenerate.

Rare we're ever asked for it anyway.

We do notate the CIF record that mail was returned and we have an "insufficient address or bad address".

I am still confused how you cannot maintain copies of periodic statements or cannot reproduce them and hope to comply with Regulation Z

(a) General rule. A creditor shall retain evidence of compliance with this part (other than advertising requirements under §§ 1026.16 and 1026.24, and other than the requirements under § 1026.19(e) and (f)) for two years after the date disclosures are required to be made or action is required to be taken. The administrative agencies responsible for enforcing the regulation may require creditors under their jurisdictions to retain records for a longer period if necessary to carry out their enforcement responsibilities under section 108 of the Act.