Can I Destroy This? Managing Corporate Records in an Ever-expanding Recorded World

Daniel Flynn, Corporate Legal Counsel, Heartland Financial USA, Inc., USA

When one thinks of in-house corporate lawyers, they likely think of contract drafting and review, compliance matters, advising business lines and employees on legal issues, or advising executives on legal risks. However, one job function of a corporate lawyer that may be just as important is the oversight of the company’s records retention policies. Too often this company task is overlooked and undervalued, This article makes the case for why it’s critically important for a company to maintain a solid, company-wide records retention policy. It also explores the negative implications that companies could endure for not having such a policy in place. Finally, it provides a framework for companies to utilize in crafting and implementing their own records retention policies.

Daniel Patrick Flynn is an in-house banking and corporate law attorney at Heartland Financial USA, Inc. in Dubuque, Iowa, United States. He holds a bachelor’s degree from Winona State University, a master’s degree from Brandeis University, and a law degree from the William Mitchell College of Law.

Founded in 1981, Heartland Financial USA, Inc. is an American $8.3 billion diversified financial services company providing banking, mortgage, private client, investment, insurance and consumer finance services to individuals and businesses. Heartland currently has 94 banking locations serving 71 communities in the states of Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas, Missouri, Texas and California, with mortgage loan production offices in Nevada and Idaho. Heartland's common stock is traded through the NASDAQ® Global Select Market System under the symbol “HTLF.”