Except with the prior written consent of the Corporation-
If the offense referred to in paragraph (1)(A) in connection with any person referred to in such paragraph is-
the Corporation may not consent to any exception to the application of paragraph (1) to such person during the 10-year period beginning on the date the conviction or the agreement of the person becomes final.
On motion of the Corporation, the court in which the conviction or the agreement of a person referred to in subparagraph (A) has been entered may grant an exception to the application of paragraph (1) to such person if granting the exception is in the interest of justice.
A motion may be filed under clause (i) at any time during the 10-year period described in subparagraph (A) with regard to the person on whose behalf such motion is made.
Whoever knowingly violates subsection (a) shall be fined not more than $1,000,000 for each day such prohibition is violated or imprisoned for not more than 5 years, or both.
With respect to an individual, subsection (a) shall not apply to an offense if-
For individuals who committed an offense when they were 21 years of age or younger, subsection (a) shall not apply to the offense if it has been more than 30 months since the sentencing occurred.
This paragraph shall not apply to an offense described under subsection (a)(2).
With respect to an individual, subsection (a) shall not apply to an offense if-
Subsection (a) shall not apply to such de minimis offenses as the Corporation determines, by rule.
In issuing rules under subparagraph (A), the Corporation shall include a requirement that the offense was punishable by a term of three years or less confined in a correctional facility, where such confinement-
In setting the criteria for de minimis offenses under subparagraph (A), if the Corporation establishes criteria with respect to insufficient funds checks, the Corporation shall require that the aggregate total face value of all insufficient funds checks across all convictions or program entries related to insufficient funds checks is $2,000 or less.
Subsection (a) shall not apply to certain lesser offenses (including the use of a fake ID, shoplifting, trespass, fare evasion, driving with an expired license or tag, and such other low-risk offenses as the Corporation may designate) if 1 year or more has passed since the applicable conviction or program entry.
Subsections (a) and (b) shall apply to any company (other than a foreign bank) that is a bank holding company and any organization organized and operated under section 25A of the Federal Reserve Act [ 12 U.S.C. 611 et seq.] or operating under section 25 of the Federal Reserve Act [ 12 U.S.C. 601 et seq.], as if such bank holding company or organization were an insured depository institution, except that such subsections shall be applied for purposes of this subsection by substituting "Board of Governors of the Federal Reserve System" for "Corporation" each place that term appears in such subsections.
The Board of Governors of the Federal Reserve System may provide exemptions, by regulation or order, from the application of paragraph (1) if the exemption is consistent with the purposes of this subsection.
Subsections (a) and (b) shall apply to any savings and loan holding company as if such savings and loan holding company were an insured depository institution, except that such subsections shall be applied for purposes of this subsection by substituting "Board of Governors of the Federal Reserve System" for "Corporation" each place that term appears in such subsections.
The Board of Governors of the Federal Reserve System may provide exemptions, by regulation or order, from the application of paragraph (1) if the exemption is consistent with the purposes of this subsection.
The Corporation shall accept consent applications from an individual and from an insured depository institution or depository institution holding company on behalf of an individual that are filed separately or contemporaneously with a regional office of the Corporation.
Consent applications filed at a regional office of the Corporation by an insured depository institution or depository institution holding company on behalf of an individual-
Consent applications filed at a regional office by an individual-
The national office of the Corporation shall-
The Corporation shall make all forms and instructions related to consent applications available to the public, including on the website of the Corporation.
The forms and instructions described under subparagraph (A) shall provide a sample cover letter and a comprehensive list of items that may accompany the application, including clear guidance on evidence that may support a finding of rehabilitation.
In reviewing a consent application, a regional office shall-
The Corporation may not require an applicant to provide certified copies of criminal history records unless the Corporation determines that there is a clear and compelling justification to require additional information to verify the accuracy of the criminal history record of the Federal Bureau of Investigation.
Consistent with title VII of the Civil Rights Act of 1964 ( 42 U.S.C. 2000e et seq.), the Corporation shall-
With respect to an approved consent application filed by an insured depository institution or depository institution holding company on behalf of an individual, if the Corporation determines it appropriate, such approved consent application shall allow the individual to work for the same employer (without restrictions on the location) and across positions, except that the prior consent of the Corporation (which may require a new application) shall be required for any proposed significant changes in the individual's security-related duties or responsibilities, such as promotion to an officer or other positions that the employer determines will require higher security screening credentials.
In carrying out this section, the Corporation shall consult and coordinate with the National Credit Union Administration as needed to promote consistent implementation where appropriate.
In this section:
The term "consent application" means an application filed with Corporation 2 by an individual (or by an insured depository institution or depository institution holding company on behalf of an individual) seeking the written consent of the Corporation under subsection (a)(1).
The term "criminal offense involving dishonesty"-
The term "pretrial diversion or similar program" means a program characterized by a suspension or eventual dismissal or reversal of charges or criminal prosecution upon agreement by the accused to restitution, drug or alcohol rehabilitation, anger management, or community service.
1 See References in Text note below.
2 So in original. Probably should be preceded by "the".
12 U.S.C. § 1829
EDITORIAL NOTES
REFERENCES IN TEXTSection 1008 of title 18, referred to in subsec. (a)(2)(A)(i)(I), was repealed by Pub. L. 101-73, title IX, §961(g)(1), Aug. 9, 1989, 103 Stat. 500.Sections 25 and 25A of the Federal Reserve Act, referred to in subsec. (d)(1), are classified to subchapters I (§601 et seq.) and II (§611 et seq.), respectively, of chapter 6 of this title.The Civil Rights Act of 1964, referred to in subsec. (f)(7), is Pub. L. 88-352, July 2, 1964, 78 Stat. 241. Title VII of the Act is classified generally to subchapter VI (§2000e et seq.) of chapter 21 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 2000a of Title 42 and Tables.
AMENDMENTS2022-Subsec. (c). Pub. L. 117-263, §5705(a)(1), added subsec. (c).Subsecs. (f), (g). Pub. L. 117-263, §5705(a)(2), added subsecs. (f) and (g).2010-Subsec. (e). Pub. L. 111-203 substituted "Board of Governors of the Federal Reserve System" for "Director of the Office of Thrift Supervision" in two places.2006-Subsecs. (d), (e). Pub. L. 109-351 added subsecs. (d) and (e).1994-Subsec. (a)(2)(A)(i)(I). Pub. L. 103-322 substituted "1517, 1956, or 1957" for "or 1956".1992-Subsec. (a)(1)(A). Pub. L. 102-550 inserted "or money laundering" after "breach of trust".1990-Subsec. (a). Pub. L. 101-647 amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: "Except with the prior written consent of the Corporation-"(1) any person who has been convicted of any criminal offense involving dishonesty or a breach of trust may not participate, directly or indirectly, in any manner in the conduct of the affairs of an insured depository institution; and"(2) an insured depository institution may not permit such participation."1989- Pub. L. 101-73 amended section generally. Prior to amendment, section read as follows: "Except with the written consent of the Corporation, no person shall serve as a director, officer, or employee of an insured bank who has been convicted, or who is hereafter convicted, of any criminal offense involving dishonesty or a breach of trust. For each willful violation of this prohibition, the bank involved shall be subject to a penalty of not more than $100 for each day this prohibition is violated, which the Corporation may recover for its use."
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2010 AMENDMENTAmendment by Pub. L. 111-203 effective on the transfer date, see section 351 of Pub. L. 111-203 set out as a note under section 906 of Title 2, The Congress.
PROVISIONS NOT REPEALED, MODIFIED OR AFFECTEDNothing contained in sections 201 to 205 and 207 of Pub. L. 89-695 amending sections 1813 and 1817 to 1820 and repealing section 77 of this title to be construed as repealing, modifying, or affecting this section, see section 206 of Pub. L. 89-695 set out as a note under section 1813 of this title.
- Bureau
- The term "Bureau" means the Bureau of Consumer Financial Protection.
- Director
- The term "Director" means the Director of the Bureau.
- State
- The term "State" means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
- credit
- The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.
- depository institution holding company
- The term "depository institution holding company" means a bank holding company or a savings and loan holding company.
- institution-affiliated party
- The term "institution-affiliated party" means-(1) any director, officer, employee, or controlling stockholder (other than a bank holding company or savings and loan holding company) of, or agent for, an insured depository institution;(2) any other person who has filed or is required to file a change-in-control notice with the appropriate Federal banking agency under section 1817(j) of this title;(3) any shareholder (other than a bank holding company or savings and loan holding company), consultant, joint venture partner, and any other person as determined by the appropriate Federal banking agency (by regulation or case-by-case) who participates in the conduct of the affairs of an insured depository institution; and(4) any independent contractor (including any attorney, appraiser, or accountant) who knowingly or recklessly participates in-(A) any violation of any law or regulation;(B) any breach of fiduciary duty; or(C) any unsafe or unsound practice,which caused or is likely to cause more than a minimal financial loss to, or a significant adverse effect on, the insured depository institution.
- insured bank
- The term "insured bank" means any bank (including a foreign bank having an insured branch) the deposits of which are insured in accordance with the provisions of this chapter; and the term "noninsured bank" means any bank the deposits of which are not so insured.
- insured depository institution
- The term "insured depository institution" means any bank or savings association the deposits of which are insured by the Corporation pursuant to this chapter.
- person
- The term "person" means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.
- violation
- The term "violation" includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation.