According to the FDIC's BSA examination procedures dated 10/17/03, the financial institution needs to maintain appropriate records of search results under the USA PATRIOT Act Section 314(a). I'd like to know what kind of recordkeeping would satisfy the regulatory requirement. Do we need to keep FinCEN's requests on file? Why or why not?
After an employee leaves the bank, how long must her/his personnel files be kept?
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.
Are there any documents or transactional records that need to be retained longer than five years?
What is the retention period for paid off loans?
I have copies of printed advertising copy and recorded advertising. Do I need to maintain records relative to the dates and media that was used for each item and if so, where can I find that requirement in the regs?
When can a national bank use electronic communication as customer notification for securities transactions?
How long must HUD escrow accounts be kept and is computerized storageokay?
How long are we required to keep Power of Attorneys and death certificates and are we required to keep Power of Attorneys if the customer is deceased.
I'd like to know the retention period for lending documents and loan file data.