NDAA relaxes criminal history restrictions for financial jobs

The latest National Defense Authorization Act, which was signed into law in December 2022, included the Fair Hiring in Banking Act, which modified section 19 of the Federal Deposit Insurance Act. Section 19 restricts certain individuals with criminal records from attaining employment with financial institutions. These modifications further narrow the convictions which constitute a bar to employment and reduce the time after some convictions before an individual can seek employment in the financial sector. Read on for more details.