S 5025
117th Congress
Senate
Finance and Financial Sector
Fair Hiring in Banking Act
Introduced: September 29, 2022
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 29, 2022
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1