What is the record retention period for the BBA?
A. The credit union should retain all evidence of compliance with the BBA permanently. This includes (1) a copy of any code of conduct or BBA policy it establishes for its employees, volunteers, agents and attorneys, including any modifications; (2) any initial written acknowledgment of receipt from employees, volunteers, agents and attorneys of the policy and written acknowledgment of any subsequent material changes, as well as their agreement to comply with its provisions; and (3) written reports of any disclosures made by credit union employees, volunteers, agents or attorneys in connection with the code or policy. This article is designed to provide general reference information only. It has been prepared with regard to the subject matters covered and is solely intended to be an informational guide. This information should not be considered as legal advice nor relied upon as a substitute for professional services for specific fact situations. This Web site and the credit union leag
