Fair Hiring in Banking Act
This bill exempts certain individuals convicted of a crime from specified requirements related to employment by an insured depository institution. Specifically, written consent from the Federal Deposit Insurance Corporation is not required for an institution to hire an individual convicted of a criminal offense involving dishonesty, a breach of trust, or money laundering
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3441 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
2d Session
S. 3441
To amend the Federal Deposit Insurance Act to provide exceptions to the
prohibition on participation by individuals convicted of certain
offenses, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 11, 2020
Mr. Jones (for himself, Mr. Tillis, Mr. Manchin, and Mr. Cornyn)
introduced the following bill; which was read twice and referred to the
Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To amend the Federal Deposit Insurance Act to provide exceptions to the
prohibition on participation by individuals convicted of certain
offenses, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Fair Hiring in Banking Act''.
SEC. 2. PENALTY FOR UNAUTHORIZED PARTICIPATION BY CONVICTED INDIVIDUAL.
Section 19(a) of the Federal Deposit Insurance Act (12 U.S.C.
1829(a)) is amended by adding at the end the following:
``(3) Prior written consent not required.--
``(A) In general.--Except as provided in
subparagraph (B), the prior written consent of the
Corporation shall not be required under paragraph (1)
for any person who has been convicted of an offense
referred to in paragraph (1)(A) or has agreed to enter
into a pretrial diversion or similar program with a
prosecution for such an offense--
``(i) after the 7-year period beginning on
the date that the sentencing or program
requirements in connection with the conviction
or pretrial diversion or similar program have
been completed;
``(ii) after the 30-month period beginning
on the date that the sentencing or program
requirements in connection with the conviction
or pretrial diversion or similar program have
been completed if the person who committed the
offense was under 21 years of age; or
``(iii) if the conviction or agreement for
such offense has been pardoned, sealed, or
expunged even if any record of the conviction
or program entry remain accessible by courts,
law enforcement, or in connection with the
employment or application for employment of the
person in a position where a criminal
background check is required by law.
``(B) Exceptions.--Subparagraph (A) shall not apply
to--
``(i) any offense described in paragraph
(2)(A);
``(ii) any person who intends to acquire
control of any insured depository institution;
or
``(iii) any person who seeks to become a
director or executive officer of any insured
depository institution.
``(C) Definitions.--In this paragraph--
``(i) the term `control' has the meaning
given the term in section 7(j)(8); and
``(ii) the term `executive officer' has the
meaning given the term in section 22(h) of the
Federal Reserve Act (12 U.S.C. 375b(h)).''.
<all>
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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