Register May 2014 No. 701
Retention of records; destruction of records.
Ch. DFI-Bkg 9 Note
Chapter Bkg 9 was renumbered Chapter DFI-Bkg 9 under s. 13.93 (2m) (b) 1., Stats., and corrections made under s. 13.93 (2m) (b) 6. and 7., Stats., Register, June, 1997, No. 498
, eff. 7-1-97.
Each bank shall retain its records in a manner consistent with prudent business practices and in accordance with this chapter and other applicable state or federal laws, rules, and regulations. The record retention system utilized must be able to accurately produce such records.
Except where a retention period is required by state or federal laws, rules, or regulations, a bank may destroy its records subject to the considerations set forth in sub. (1)
. In the destruction of records, the bank shall take reasonable precautions to assure the confidentiality of information in the records.