Fair Hiring in Banking Act

Fair Hiring in Banking Act

This bill generally exempts certain individuals convicted of a crime from requirements related to employment by an insured depository institution or an insured credit union. Specifically, written consent from the Federal Deposit Insurance Corporation or the National Credit Union Administration is not required for an institution to hire an individual convicted of a criminal offense involving dishonesty, a breach of trust, or money laundering

• 7 years after the individual meets sentencing requirements;
• for an individual who committed the offense while under the age of 21, 30 months after the individual meets sentencing requirements; or
• if the conviction was pardoned, sealed, or expunged.

However, written consent is required for specified financial crimes (including theft by a bank employee) or for any person seeking to become a director or senior executive officer.