Hello esteemed listmates,

 

I'm posting this question on behalf of my colleague, Josée Dallaire, Canadian Tire Financial Services (CTFS). She's been having difficulty with her subscription to the RM list and asked me to post for her. Please would you respond to her directly at [log in to unmask] as well as the list.

 

She would like to know if other Canadian banks are applying Statutes of Limitations Act (provincial and federal) on record types such as applications for bank products (credit cards, mortgages etc); voice recordings of customer provision of information to the bank when applying for a product; terms and conditions agreed to by the customer via Internet application.

 

It's understood that the Statutes of Limitations are not a requirement as such to retain records for a specified amount of time, but need to be considered in terms of potential risk of litigation. 

 

many thanks,

 

Kirsten

 

Kirsten McKnight

Kirsten McKnight, MISt

Business Analyst

Risk Management and Compliance Services

Canadian Tire Corporation

tel: (416) 544-6155 fax: (416)440-7361

 

 


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