Can I Work in Banking with a Criminal Record?

Some new rules established in 2020 say yes! This article by SHRM gives an excellent overview. An excerpt is below:

“Banking employers can more easily hire job candidates with minor criminal records under a new rule issued by the Federal Deposit Insurance Corporation (FDIC).

The rule, which went into effect Aug. 23, codifies internal standard operating procedure at the financial insurance agency.

Under Section 19 of the Federal Deposit Insurance Act, FDIC-insured banks are prohibited from hiring any person who has been convicted of a crime involving "dishonesty, breach of trust, or money laundering," unless they obtain consent from the FDIC. The new rule limits the instances in which a bank would have to get that written approval.”