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Can you summarize WIAC DFI-Bkg Chapter 9?
Department of Financial Institutions-Banking > Retention Of Books And Records
Short Summary
The provided legal document content pertains to the retention of books and records by banks in Wisconsin. Each bank is required to retain its records in a manner consistent with prudent business practices and in accordance with applicable state or federal laws, rules, and regulations. The record retention system used must be able to accurately produce such records. Banks are allowed to destroy their records, except where a retention period is required by state or federal laws, rules, or regulations. In the destruction of records, banks must take reasonable precautions to assure the confidentiality of information in the records. The document does not mention any specific penalties for non-compliance or violation of the record retention requirements.
Whom does it apply to?
Banks
What does it govern?
Retention of books and records
What are exemptions?
Retention periods required by state or federal laws, rules, or regulations
What are the Penalties?
No specific penalties mentioned
Jurisdiction
Wisconsin