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#1508120 - 02/10/11 05:47 PM E-Statement Retention
Pounder Offline
Member
Joined: Jul 2008
Posts: 92
Is there a minimum retention period for e-statement viewability? It seems that most estatements are available for 12 months. Would like to know what time frame other posters are using.

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eBanking / Technology
#1508393 - 02/10/11 09:29 PM Re: E-Statement Retention Pounder
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
Assuming these e-statements are for consumer accounts and further assuming they include EFTs of one type or another, Reg. E requires a minimum retention period of 24 months. If you have to maintain them in a manner that will allow retrieval for bank examiners, why not leave them where your depositors can get to them also? If you decide on something less than 24 months, don't forget that taxpaying customers may need access to a full year's statements in order to retrieve evidence of deductible items.
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