Provided below are links to resources that should be helpful for a party considering or pursuing an application to allow an individual convicted of certain criminal offenses to participate in the affairs of an insured institution. Prior to submitting an application, the FDIC encourages prospective applicants to carefully review each of the resources, which include appropriate references to the Federal Deposit Insurance Act and the FDIC Rules and Regulations, along with contact information for the appropriate FDIC Regional or Area Office.
On December 23, 2022, the Fair Hiring in Banking Act (Act), was signed into law and became immediately effective. The Act provides significant amendments to Section 19 of the Federal Deposit Insurance Act (12 U.S.C. § 1829) (Section 19). The FDIC is in process of updating its application form and industry guidance to reflect the amendments. Applicants should continue to use this form when submitting an application to the FDIC under section 19.
On August 7, 2024, the FDIC published a final rule that revised 12 C.F.R. part 303, subpart L, and part 308, subpart M, thereby updating the FDIC's regulations concerning section 19 to conform with the Act. The final rule became effective October 1, 2024. Items listed below include a link to Financial Institution Letter (FIL) 49-2024, which contains a link to the August 7, 2024 Federal Register publication of the final rule.
Resources Specific to Applications for Section 19 and the Application Process
Application Forms
Laws and Regulations
- Section 19 of the FDI Act - Penalty for Unauthorized Participation by Convicted Individual
- Part 303 Subpart L – Section 19 of the FDI Act (Consent to Service of Persons Convicted of, or Who Have Program Entries for, Certain Criminal Offenses)
Other Resources
Laws, Regulations, and Supervisory Guidance
- FIL-49-2024 - Final Rule to Revise FDIC Regulations Concerning Section 19 of the Federal Deposit Insurance Act
- August 7, 2024 Federal Register - Final Rule
- FIL-09-2023 - Fair Hiring in Banking Act Amends Section 19 of the Federal Deposit Insurance Act
- The publication titled "Your Guide to Section 19" is being updated to incorporate changes made by the Fair Hiring In Banking Act and will be posted to this website when it becomes available.
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