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Record Retention for Denied Loans

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Is the retention period for denied loans two years?

Actually the general rule is 25 months. Under 202.12 this applies to consumer loans. Small business (gross annual revenues less than or equal to $1 million) is 12 months. Larger business requests are 60 days.

None of these would apply if you have ongoing litigation involving this.

First published on 5/17/04

First published on 05/17/2004

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Filed under lending as: 

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