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Easier Banking Employment for Individuals with Past Convictions

New rules make it easier for individuals with certain past convictions, not involving serious financial crimes, to work in banks and credit unions. After a specific period or if their conviction is pardoned, sealed, or expunged, they will no longer need special permission for employment. This aims to increase employment opportunities and social reintegration.
Key points
Individuals with less severe convictions can work in financial institutions after 7 years from completing their sentence or program.
For those under 21 at the time of the offense, this period is shortened to 30 months.
Pardoned, sealed, or expunged convictions do not require consent for employment, even if records are accessible to courts or law enforcement.
These changes do not apply to individuals convicted of serious financial crimes, or those seeking to control or become a director/executive officer of a financial institution.
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Expired
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Additional Information
Print number: 117_S_5025
Sponsor: Sen. Manchin, Joe, III [D-WV]
Process start date: 2022-09-29
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fair Hiring in Banking Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_5025.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-09-29.

What are the main provisions?

Key points include:

  • Individuals with less severe convictions can work in financial institutions after 7 years from completing their sentence or program.
  • For those under 21 at the time of the offense, this period is shortened to 30 months.
  • Pardoned, sealed, or expunged convictions do not require consent for employment, even if records are accessible to courts or law enforcement.
  • These changes do not apply to individuals convicted of serious financial crimes, or those seeking to control or become a director/executive officer of a financial institution.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Manchin, Joe, III [D-WV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Labor Courts and Law Economy