BETTER MARKETS: PEOPLE SHOULD NOT BE BARRED FROM EMPLOYMENT IN BANKING FOR MINOR OFFENSES, PARTICULARLY WHEN BANK EXECUTIVES REPEATEDLY COMMIT FAR WORSE CRIMES
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"The law generally prohibits people who have been convicted of certain crimes from being employed by
"While there is still a long way to go, the proposal marks a step toward more equality in the treatment of lower-level bank employees relative to high-powered bank executives. Lower-level applicants and employees face employment barriers due to minor offenses, while many bank executives remain employed in positions of power despite taking part in large-scale consumer abuses, money laundering, and other serious financial crimes. The executives get bonuses and hardworking, qualified Americans get barred from jobs. That double standard is indefensible, and this proposal at least addresses one part of that.
"However, in addition to implementing the FHBA, the
Read our full comment letter here (https://bettermarkets.org/wp-content/uploads/2024/01/Better-Markets-Comment-Letter-FDIC-Fair-Hiring-in-Banking-Act.pdf).
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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of
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Original text here: https://bettermarkets.org/newsroom/people-should-not-be-barred-from-employment-in-banking-for-minor-offenses-particularly-when-bank-executives-repeatedly-commit-far-worse-crimes/
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