[Code of Federal Regulations]

[Title 12, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR226.25]



[Page 308]

 

                       TITLE 12--BANKS AND BANKING

 

                   CHAPTER II--FEDERAL RESERVE SYSTEM

 

PART 226_TRUTH IN LENDING (REGULATION Z)--Table of Contents

 

                         Subpart D_Miscellaneous

 

Sec. 226.25  Record retention.





    (a) General rule. A creditor shall retain evidence of compliance 

with this regulation (other than advertising requirements under 

Sec. Sec. 226.16 and 226.24) for 2 years after the date disclosures are 

required to be made or action is required to be taken. The 

administrative agencies responsible for enforcing the regulation may 

require creditors under their jurisdictions to retain records for a 

longer period if necessary to carry out their enforcement 

responsibilities under section 108 of the act.

    (b) Inspection of records. A creditor shall permit the agency 

responsible for enforcing this regulation with respect to that creditor 

to inspect its relevant records for compliance.