Background Investigations

Convicted Persons

Persons convicted of a crime involving dishonesty, breach of trust, or money laundering are prohibited, under 12 USC 1829, from participating in the affairs of an insured depository institution without prior consent of the FDIC. Additionally, this section provides that conviction for certain enumerated violations pertaining to financial institution-related crimes precludes the FDIC for 10 years from considering or consenting to an application filed by a person convicted of such offense. The OCC consults with the FDIC when a filer would be subject to 12 USC 1829.

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