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How Long Should We Keep Paper Documents Before Shredding?

Question: 
How long should we keep paper documents before shredding?
Answer: 

Before altering your existing document retention policy, first check with legal counsel and your compliance department.

According to a recent study, most banks that utilize an electronic imaging system retain paper files for a few weeks or months before shredding. Banks that rely on paper files retain them indefinitely or as otherwise defined by their retention policies.

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Download a study of 94 banks’ retention policies:
http://go.accusystem.com/document-retention/.

Vendor: 

AccuSystems develops document management and exception tracking software for financial institutions. Trusted by more than 15,000 bankers worldwide, AccuAccount automates exception tracking, streamlines audits, and simplifies loan imaging. Request a demo, register for a webinar, or download a free whitepaper.

First published on 09/13/2015

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