Fair Hiring in Banking Act

Fair Hiring in Banking Act

This bill creates exceptions to the restriction on hiring persons convicted of certain criminal offenses involving dishonesty or a breach of trust to a position with an insured depository institution or an insured credit union. Currently, a waiver must be obtained from the Federal Deposit Insurance Corporation or the National Credit Union Administration to allow the employment of such a person.

Specifically, a waiver is not needed if it has been 7 years or more since the offense occurred or if the individual was incarcerated with respect to the offense and it has been 5 years or more since the individual was released from incarceration. The need for a waiver also does not apply to conduct committed before age 21 and if it has been at least 30 months since the sentencing. Individuals with a criminal record that is expunged, sealed, or pardoned are also exempt from waiver requirements.