Background Investigations

Joint Statement of Guidelines on Conducting BackgroundChecks and Change in Control Investigations

Date: January 22, 1988

This guideline is issued jointly by the Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration, hereinafter referred to, collectively, as “the agencies.”

The agencies routinely perform Federal Bureau of Investigation (FBI) and other background checks on individuals seeking to enter the depository institution business through establishment of new depository institutions or depository institution holding companies, or through changes in control. The agencies agree on the following guidelines regarding such background investigations on individuals.

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