The Federal Deposit Insurance Corporation (FDIC) in November issued modifications to its Statement of Policy (SOP) for applications made under Section 19 of the Federal Deposit Insurance Act (FDIC). Section 19 prohibits a person convicted of any criminal offense involving dishonesty, breach of trust, money laundering, or who has entered into a pretrial diversion or similar program, from participating in the affairs of an FDIC-insured institution. The modifications are expected to reduce the number of Section 19 applications FDIC-supervised institutions must submit prior to extending offers of employment.