Regulatory Alerts2023-11-14 | 2023-23853Fair Hiring in Banking Act
The Federal Deposit Insurance Corporation proposes regulatory revisions to align its Section 19 prohibitions on banking participation with the Fair Hiring in Banking Act. The proposed rules exempt or exclude specific categories of criminal offenses—including older convictions, those committed by individuals aged twenty-one or younger, designated lesser offenses, and certain drug-related misdemeanors—from the statutory ban. Additionally, the FDIC codifies streamlined consent application procedures by mandating reliance on FBI criminal history records and requiring assessments of rehabilitation evidence to facilitate fairer hiring outcomes for insured depository institutions.
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