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#2256771 - 07/15/21 09:00 PM Old Binders
dmk124 Offline
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Posts: 56
This is not really Compliance but rather a frivolous question. I am new to this bank and they have SO MANY binders of regulations, some are clearly outdated. Does it make sense to keep this information? I am never going to use it. Most notes in there are hand-written which I can't even decipher. There are at least 50 binders in my office. Thoughts??

***I should note most of this information has been saved on the computer as well.

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General Discussion
#2256772 - 07/15/21 09:07 PM Re: Old Binders dmk124
ACBbank Offline
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Get your shredder ready.
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#2256773 - 07/15/21 09:13 PM Re: Old Binders dmk124
Rocky P Offline
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You may want to temporarily save those that were in effect since the last regulatory exam in the event the regulation changed and you need to prove compliance before the change.
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#2256777 - 07/15/21 09:35 PM Re: Old Binders dmk124
rlcarey Online
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meh - all of that is available on-line. Just throw them in the trash - no reason to shred regulatory manuals.
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#2256780 - 07/15/21 10:54 PM Re: Old Binders dmk124
Rocky P Offline
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Florida
I was under the impression that they were internal manuals.
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#2256784 - 07/16/21 01:13 PM Re: Old Binders dmk124
dmk124 Offline
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Joined: Jun 2021
Posts: 56
Thank you everyone for your input. These are just printed regulations with notes from the previous Compliance Officer. We just had an exam recently and no one referenced them then. Also this person hand wrote everything and I cannot decipher it.

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#2256788 - 07/16/21 01:46 PM Re: Old Binders dmk124
Dan Persfull Online
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I still have my copies of the TILA booklet effective 7/1/69 amended 4/1/81 and a copy of the TILA Simplification and Reform Act booklet (somehow simplification and TILA don't belong in the same sentence.)

Anyway I've kept these for nostalgia purposes to remind myself how long I've been around the finance business and that I'm getting to be an old f_ _t.

Other than that - throw them in the trash.
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#2256793 - 07/16/21 02:27 PM Re: Old Binders dmk124
Skittles Online
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I remember when I started at a new employer (2002) and I was the first full time compliance officer. The CO before me was also in retail which took up the majority of her time. She handed me (with such pride) the book they had purchased from a well known vendor that covered the HMDA requirements - and it was still in the plastic. Basically they paid approximately $500 for a paper weight.

Now - I retain very little in paper format.
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#2256798 - 07/16/21 03:39 PM Re: Old Binders dmk124
RebekahL CRCM Offline
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Big Sky Country
Pitch and purge! You'll feel better after you get rid of all that dead weight. Free yourself from the visual and mental clutter of a former person's baggage.

When I took my first compliance officer position 20+ years ago I pitched all the binders and notes from my predecessor -- they were written in short-hand!! shocked
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#2256799 - 07/16/21 03:41 PM Re: Old Binders Dan Persfull
RebekahL CRCM Offline
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Big Sky Country
Originally Posted by Dan Persfull
I still have my copies of the TILA booklet effective 7/1/69 amended 4/1/81 and a copy of the TILA Simplification and Reform Act booklet (somehow simplification and TILA don't belong in the same sentence.)

Anyway I've kept these for nostalgia purposes to remind myself how long I've been around the finance business and that I'm getting to be an old f_ _t.

Other than that - throw them in the trash.

That's actually pretty cool Dan! I'd hold onto them too. That's some remarkable compliance geek history right there!
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#2256805 - 07/16/21 04:46 PM Re: Old Binders dmk124
praBSA Offline
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Posts: 269
Be happy it's just manuals. The previous BSA officer here did everything on paper. It took me about 6 months to scan every one of her documents in for retention purposes and shred it all. It was totally worth it. My entire department no longer works on even 1 sheet of paper.

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#2256808 - 07/16/21 05:03 PM Re: Old Binders dmk124
Rocky P Offline
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Florida
Thanks for the memories Dan. I don't remember which one it was, but one of the Reg Z books had tables and charts to determine the APR. In 1973, we bought a program from Boston Scientific (literally a 2 page document) that we had to program in BASIC which calculated the APR.
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#2258945 - 08/30/21 05:53 PM Re: Old Binders dmk124
Truffle Royale Online

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Our office is undergoing a total gut and rebuild so we were all called in to purge. No more excuses! I just loaded up a couple shred bins with printed LARS and conference notes, training manuals, et al. What I decided to keep fills less than a quarter of the file cabinet in my home office. And what I didn't keep, I can likely google faster than I'd find it paging through a binder anyway.

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#2258994 - 08/31/21 02:36 PM Re: Old Binders dmk124
#Just Jay Online
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After a recent office move, my desk now holds more snacks than it does paper. I intend to keep it that way.
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#2259018 - 08/31/21 04:34 PM Re: Old Binders dmk124
DeeQ Offline
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Since working from home (7+ years), I have had zero clutter in my home office.
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