A bill to provide for the setting aside of convictions in certain cases.

Provides that upon the unconditional discharge of an offender placed on probation, the court may, thereafter, in its discretion, set aside the conviction and issue to the offender a certificate to that effect.

States that in the case of an offender as to whom no sentence of imprisonment or period of probation is imposed, the court, after the expiration of 2 years from the date of conviction, in its discretion, may set aside the conviction and issue to the offender a certificate to that effect.

Specifies that a conviction so set aside shall not constitute a conviction within the meaning of any law or regulation of the United States. (Amends 18 U.S.C. 3657)

Provides that the Attorney General may exchange specified records with (1) the officials of federally chartered or insured banking institutions to promote or maintain the security of those institutions; and (2) if authorized by State statute, officials of State and local government for purposes of employment and licensing. (Amends 28 U.S.C. 534)