Answer:
Answer: Record retention requirements are controlled by the state where your institution is located. Check with your state's department of banking or its banking association.
Answer:
Answer by: Carolyn Jones, BOL Guru
Power of Attorney cards as well as death certificates (in my opinion) should be retained for a minimum of 5 years in most states. This is not a written law however and it is up to the institution to set policy. FRC has always suggested 5 years and it is a standard industry practice.
First published on BankersOnline.com 3/17/03
print
share