Hiring & Firing, Banking Sector

Ban-the-Box Measures Headed for the Financial Services Industry

Epstein Becker & Green on 9/20/2024

In recent years, advocates and lawmakers have been pushing to expand the reach of “ban-the-box” measures designed to remove job barriers for individuals with criminal convictions....more

FDIC Closing in on Implementing the Fair Hiring in Banking Act With Proposed Regulations for Section 19

Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/23/2024

The Federal Deposit Insurance Corporation (FDIC) is close to finalizing revisions to regulations regarding Section 19 of the Federal Deposit Insurance Act to align them with the Fair Hiring in Banking Act (FHBA), which eased...more

The Informed Board - Spring 2023

Skadden, Arps, Slate, Meagher & Flom LLP on 5/25/2023

Changing CEOs is one of the most critical decisions any board faces. In this issue of The Informed Board, we offer tips on how to avoid the mistakes we most often see. We also explain the problems companies could face if the...more

The Site Report - Construction Law Insights, Issue 4, April 2023

Spilman Thomas & Battle, PLLC on 5/1/2023

Here are the Top Risks for the Construction and Engineering Sector - “Business interruption/supply chain disruption and natural catastrophes are the top risks for the construction and engineering industry, followed by the...more

Congress Eases Criminal Offense Restrictions for Employment With Financial Institutions

Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/27/2023

Included in the defense spending bill signed by President Biden in December 2022 is a section with key provisions for financial institutions that will ease restrictions on hiring candidates with criminal records....more

Wells Fargo’s Woes Continue — A Rotten Culture that Continues to Stink

The Volkov Law Group on 8/10/2022

It is hard to write yet another posting about Wells Fargo’s misconduct. Wells Fargo’s troubles continue unabated. I am not exaggerating — I promise. Every few months, we hear about another problem, another enforcement...more

OFCCP Week In Review: July 2021 #2

DirectEmployers Association on 7/13/2021

The DE OFCCP Week in Review (WIR) is a simple, fast and direct summary of relevant happenings in the OFCCP regulatory environment, authored by experts John C. Fox, Candee Chambers and Jennifer Polcer. In today’s edition, they...more

Returning To The Office In The Financial Industry

Jackson Lewis P.C. on 3/9/2021

As COVID-19 vaccinations progress and as our economic and social lives begin to return to normal, employers are faced with new challenges. These challenges are particularly difficult for banks and credit unions, which not...more

Financial Institutions and the FCPA

Foodman CPAs & Advisors on 1/10/2020

The Foreign Corrupt Practices Act (FCPA) prohibits payment of bribes to foreign officials to assist with obtaining or retaining business. It requires companies whose securities are listed in the US to maintain books and...more

(Another) Big Bank Pays FCPA Penalty for Hiring Practice

Bass, Berry & Sims PLC on 10/24/2019

• A payment to a government official can take many forms. • The SEC charges bank for books and records violation even absent a bribery charge. • Industry-wide enforcement is a continuing tactic for U.S. regulators. ...more

Banking Standards Board Publishes Good Practice Guidance on Regulatory References

A&O Shearman on 9/16/2019

The Banking Standards Board has published a statement of good practice for firms when providing and requesting regulatory references in accordance with the Senior Managers and Certification Regime. The SM&CR for banks and...more

Germany May Ease Labor Regulations on Termination of Top Managers to Lure British Banks

Littler on 11/26/2018

On November 20, 2018, the German Ministry of Finance sent the draft of the Brexit Tax Accompanying Act (the Act) to other ministries and industry associations for their review and input....more

Frankfurt’s Brexit Pitch – Banks in Germany Will Soon be Able to Fire Top Bankers More Easily

Orrick - Employment Law and Litigation on 11/26/2018

Undoubtedly driven by an interest in drawing UK-based banks to Frankfurt and becoming an EU hub for US banks post-Brexit, the German government recently picked up a proposal to relax dismissal protection for high-earning...more

Eighth Circuit Backs Bank’s Policy of Termination for Disqualifying Convictions

Manatt, Phelps & Phillips, LLP on 9/27/2018

A bank did not engage in age bias when it terminated an employee after learning that he had a prior conviction that disqualified him from employment, the U.S. Court of Appeals, Eighth Circuit has affirmed....more

FDIC Loosens Restrictions on Hiring Bank Personnel with Criminal Histories

Littler on 9/6/2018

The Federal Deposit Insurance Corporation (FDIC) recently published its final rule on modifications to the Statement of Policy (SOP) for Section 19 of the Federal Deposit Insurance Act, 12 U.S.C. § 1829 (“Section 19”), which...more

FDIC Publishes Final Rule On Section 19

Amundsen Davis LLC on 8/17/2018

On August 3, 2018, the Federal Deposit Insurance Corporation (FDIC) published its final rule on proposed modifications to the Statement of Policy under Section 19 of the Federal Deposit Insurance Act....more

Procedural FCRA Violation Without Harm is Insufficient for Standing, 9th Circuit Rules

Fenwick & West LLP on 7/26/2018

The U.S. Court of Appeals for the Ninth Circuit held on July 13 that procedural violations of the Fair Credit Reporting Act without actual harm were insufficient to confer Article III standing. The court found in Dutta v....more

The Ninth Circuit Holds Plaintiff Lacked Standing for an Alleged Violation of the FCRA's "Pre-Adverse Action" Notice Provision

Littler on 7/19/2018

Nationwide class action claims against employers under the federal Fair Credit Reporting Act (FCRA) are more common now than ever before. On July 13, 2018, the U.S. Court of Appeals for the Ninth Circuit issued an opinion,...more

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