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NCUA'S FAIR HIRING IN BANKING RULE AUDIO BOOK STYLE
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Title: NCUA's New Fair Hiring in Banking Rule
Key Points:
- The NCUA Board has issued a final rule to incorporate IRPS 19-1 and the Fair Hiring in Banking Act (FHBA) into its regulations.
- The rule expands career opportunities for individuals to work and volunteer at insured credit unions who have certain criminal records.
- Key changes include:
- Expanding definition of "de minimis" offenses that don't require NCUA consent
- Excluding certain older offenses from prohibition (e.g. 7+ years old)
- Clarifying procedures for consent applications
- Aligning NCUA rules more closely with FDIC's Section 19 regulations
- The rule codifies existing NCUA policy (IRPS 19-1) into formal regulations.
- It implements changes required by the FHBA passed by Congress in December 2022.
- Credit unions must still conduct background checks, but have more flexibility in hiring those with minor or older criminal records.
- The NCUA will primarily rely on FBI criminal history records when evaluating applications.
- The rule takes effect 30 days after publication in the Federal Register.
- Credit unions should review the new regulations and update their hiring policies and procedures accordingly.
For more information, visit www.ncua.gov or contact your regional NCUA office.
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