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New Rule Allows Banks to Hire More People with Criminal Records

A new rule issued by the Federal Deposit Insurance Corporation (FDIC) now will allow banking employers to more easily hire job candidates with minor criminal records. Effective Aug. 23, the FDIC expects the new rule to reduce the regulatory burden on financial institutions and job candidates. Specifically, the rule: excludes all offenses that have been expunged or sealed rather than only certain types of expungements; allows a person with two, rather than one, “de minimis” crimes to qualify for the de minimis exception, eliminates the five-year waiting period following a first de minimis conviction and establishes a three-year waiting period following a second de minimis conviction, and increases the de minimis threshold for small-dollar, simple thefts from $500 to $1,000.

 

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Posted Under: Criminal Records

Post By Ken Shafton (848 Posts)