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Record Retention: What Documents Must Be Retained & For How Long?

Jun 22 2:00 PM - Jun 22, 2020 3:30 PM
Jun 22, 2020 2:00 PM - 3:30 PM
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Record retention is serious business. Are you complying with your institution’s policy? Are you retaining documents long enough? Or are you hanging onto some “special” items that are past their expiration date? Who is responsible for oversight? What should you do next?
Learning Objectives
  • Explain the various laws which designate a time period for document retention
  • Create a schedule of the designated retention periods for each law
  • Determine the retention period for documents that don’t fit within a specific category
  • Identify the elements of an effective record retention and destruction policy
  • Understand the special record retention rules when regulatory action or litigation is threatened

Various federal and state laws and regulations mandate retention of specific documents and records for a designated period of time. Unfortunately, these laws overlap and conflict, causing confusion. In the past, some institutions simply retained all records permanently “to be on the safe side.” That isn’t practical today because retaining all records can actually cause harm. All institutions must have a systematic record retention and destruction policy to comply with the law. This webinar will explain the legal and regulatory retention period requirements and the practical considerations for both electronic and paper document retention and destruction.



Elizabeth Fast, JD, CPA, Spencer Fane LLP

Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division.She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.




Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Operations
  • Member Service
  • Compliance