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#2280361 - 01/27/23 01:21 PM Complaints Record Retention
Anonymous
Unregistered

Is there specific guidance for minimum Record Retention info from Customer Complaints? 5yrs or 7 yrs?

Thanks

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#2280364 - 01/27/23 01:48 PM Re: Complaints Record Retention Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Not really. Not too sure why you would need any more than examination to examination for the complaints themselves. I am sure you have recap records that would go back farther, if you are talking about direct complaints. I think complaints that come through your regulator may have a specific retention period, but I do not recall right now.
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#2280367 - 01/27/23 02:06 PM Re: Complaints Record Retention Anonymous
Anonymous
Unregistered

It would be our direct complaints.

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#2280368 - 01/27/23 02:10 PM Re: Complaints Record Retention Anonymous
Anonymous
Unregistered

We want to update our complaint policy and procedures and our Legal area wants us to put in a time frame in the record retention section.

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#2280369 - 01/27/23 02:13 PM Re: Complaints Record Retention Anonymous
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,650
Florida
You may want to check to see if your state bankers organization has any recommendations.
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#2280371 - 01/27/23 02:16 PM Re: Complaints Record Retention Anonymous
Anonymous
Unregistered

I was going to put a minimum of 5 years in the policy.

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#2280372 - 01/27/23 02:19 PM Re: Complaints Record Retention Anonymous
Bankwoman1 Offline
Diamond Poster
Joined: Dec 2015
Posts: 1,046
Midwest
I was looking through our record retention schedule provided by our state bankers association and it states 3 years for customer complaints and correspondence to complaints. It states this is for various agencies.

However, as stated above, you may want to check with your states bankers associations for guidance.

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#2280373 - 01/27/23 02:20 PM Re: Complaints Record Retention Anonymous
Anonymous
Unregistered

NYSDFS is our state regulator and I can't find any guidance for Complaint record retation.

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