Fair Hiring in Banking Act

II 116TH CONGRESS 2D SESSION S. 3441 To amend the Federal Deposit Insurance Act to provide exceptions to the prohibition on participation by individuals convicted of certain offenses, and for other purposes. IN THE SENATE OF THE UNITED STATES MARCH 11, 2020 Mr. JONES (for himself, Mr. TILLIS, Mr. MANCHIN, and Mr. CORNYN) intro- duced the following bill; which was read twice and referred to the Com- mittee on Banking, Housing, and Urban Affairs A BILL To amend the Federal Deposit Insurance Act to provide exceptions to the prohibition on participation by individ- uals convicted of certain offenses, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Fair Hiring in Bank- 4 ing Act’’. 5 VerDate Sep 11 2014 01:29 Mar 22, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S3441.IS S3441 kjohnson on DSK79L0C42PROD with BILLS 2 •S 3441 IS SEC. 2. PENALTY FOR UNAUTHORIZED PARTICIPATION BY 1 CONVICTED INDIVIDUAL. 2 Section 19(a) of the Federal Deposit Insurance Act 3 (12 U.S.C. 1829(a)) is amended by adding at the end the 4 following: 5 ‘‘(3) PRIOR WRITTEN CONSENT NOT RE- 6 QUIRED.— 7 ‘‘(A) IN GENERAL.—Except as provided in 8 subparagraph (B), the prior written consent of 9 the Corporation shall not be required under 10 paragraph (1) for any person who has been con- 11 victed of an offense referred to in paragraph 12 (1)(A) or has agreed to enter into a pretrial di- 13 version or similar program with a prosecution 14 for such an offense— 15 ‘‘(i) after the 7-year period beginning 16 on the date that the sentencing or program 17 requirements in connection with the convic- 18 tion or pretrial diversion or similar pro- 19 gram have been completed; 20 ‘‘(ii) after the 30-month period begin- 21 ning on the date that the sentencing or 22 program requirements in connection with 23 the conviction or pretrial diversion or simi- 24 lar program have been completed if the 25 VerDate Sep 11 2014 01:29 Mar 22, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S3441.IS S3441 kjohnson on DSK79L0C42PROD with BILLS 3 •S 3441 IS person who committed the offense was 1 under 21 years of age; or 2 ‘‘(iii) if the conviction or agreement 3 for such offense has been pardoned, sealed, 4 or expunged even if any record of the con- 5 viction or program entry remain accessible 6 by courts, law enforcement, or in connec- 7 tion with the employment or application 8 for employment of the person in a position 9 where a criminal background check is re- 10 quired by law. 11 ‘‘(B) EXCEPTIONS.—Subparagraph (A) 12 shall not apply to— 13 ‘‘(i) any offense described in para- 14 graph (2)(A); 15 ‘‘(ii) any person who intends to ac- 16 quire control of any insured depository in- 17 stitution; or 18 ‘‘(iii) any person who seeks to become 19 a director or executive officer of any in- 20 sured depository institution. 21 ‘‘(C) DEFINITIONS.—In this paragraph— 22 ‘‘(i) the term ‘control’ has the mean- 23 ing given the term in section 7(j)(8); and 24 VerDate Sep 11 2014 01:29 Mar 22, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S3441.IS S3441 kjohnson on DSK79L0C42PROD with BILLS 4 •S 3441 IS ‘‘(ii) the term ‘executive officer’ has 1 the meaning given the term in section 2 22(h) of the Federal Reserve Act (12 3 U.S.C. 375b(h)).’’. 4 Æ VerDate Sep 11 2014 01:29 Mar 22, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\S3441.IS S3441 kjohnson on DSK79L0C42PROD with BILLS