HB2066 is a proposed bill that mandates banks and financial institutions in Arizona to destroy all personal information of former customers or clients within 10 years after the end of the business relationship, unless a longer retention period is required by law. This requirement is an addition to the current regulations that govern the retention and destruction of records by financial institutions. The bill specifies that the destruction of personal information must be carried out in a manner prescribed by law. The bill does not anticipate any fiscal impact to the state General Fund and will become effective on the general effective date.

Statutes affected:
Introduced Version: 6-129.02
House Engrossed Version: 6-129.02
Chaptered Version: 6-129.02