Valley Bank retains the cancelled checks of its customers. Valley must be able to provide customers with legible copies of checks paid for
A) one year.
B) five years.
C) seven years.
D) nine years.

Question

Quizplus · Accepted Answer

According to federal law, banks must retain cancelled checks for seven years. Therefore, Valley Bank must provide legible copies of checks paid for up to seven years for its customers.

Valley Bank Retains the Cancelled Checks of Its Customers