Fair Hiring in Banking Act

Floor Speech

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Mr. HILL. Madam Speaker, I yield myself such time as I may consume.

Madam Speaker, I rise in support of H.R. 5911, the Fair Hiring in Banking Act. I appreciate the hard work of Congresswoman Beatty from Ohio in its preparation and passage.

This bill is an important step toward continuing to expand employment opportunities for all Americans, including ex-offenders.

This bill is bipartisan. In fact, this bill codifies rules promulgated under the previous administration. The FDIC rules struck a balance between allowing qualified individuals to obtain employment through the waiver process with the need to protect the safety and soundness of our banking system.

Republicans and Democrats worked together on this bill to ensure that both of those objectives were met. In fact, I am proud to say that one place where we worked together to improve the bill was on the question of rehabilitation. Just because an individual once committed a crime does not automatically mean that they can never be trusted, nor does it mean they are unqualified to work in our financial system.

Madam Speaker, it is our responsibility as lawmakers to ensure that our banking system is safeguarded against bad actors, but it is also our responsibility to ensure that those who are qualified to work in America's financial institutions have that opportunity to pursue happiness in that manner.

Madam Speaker, I urge my colleagues to support this bill and support those who have repaid their debt to society as they begin that important journey of shifting back to society, building a new life, and pursuing happiness.

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Mr. HILL. Madam Speaker, I yield myself such time as I may consume.

Again, I thank Mrs. Beatty for her work on this bill and her leadership as our subcommittee chair.

I think it deserves reiterating that when former FDIC Chair Jelena McWilliams was at the helm, she is the one who led the way to issue rules that allow individuals convicted of certain crimes who are currently barred from employment in the banking industry to apply for an exemption. Chair McWilliams did, I think, an outstanding job at the helm of the FDIC on behalf of the Trump administration.

H.R. 5911 takes the approach that would codify--put into law--aspects of that rulemaking, as well as expand the employment opportunities at banks and credit unions.

As Congresswoman Beatty says, it does this, in part, by eliminating that waiver requirement for certain older criminal charges and reducing the lookback for crimes committed by persons under the age of 21.

This bill in no way eliminates the waiver requirement for crimes specific to a financial institution, and it doesn't change the 10-year minimum probation period.

This bipartisan bill codifies work done by the prior administration in an effective way that opens up, as I say, the opportunity for many people in this country to pursue happiness by way of a career in the financial services industry.

Madam Speaker, I spent almost four decades in the financial industry and have been involved in hiring hundreds of people in the banking industry, and this is the kind of a practical, commonsense view that I think will help many of our banks find and retain key members of their staff.

Madam Speaker, I thank the gentlewoman from Ohio for her work. I encourage colleagues on both sides of the aisle to support the bill, and I yield back the balance of my time.

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