Banks will face less red tape when considering job applicants with minor theft or drug offenses on their records thanks to the Federal Deposit Insurance Corp.’s (FDIC) recent modifications to its Statement of Policy (SOP) for Section 19 of the Federal Deposit Insurance (FDI) Act.
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 (program entry) in connection with a prosecution for such offense, from participating in the affairs of an FDIC-insured institution.
Read on to get more details about the modifications.