Cleveland Partner Discusses New Federal Law That Loosens Hiring Restrictions for Banks

In an interview with SHRM, Richard Millisor shares his insight on the practical steps banks and credit unions may need to take to modify their hiring processes in light of the new federal law. The new law loosens restrictions on financial institutions hiring people with criminal histories.

He explains that such an individualized assessment should include evidence of rehabilitation, age at the time of conviction, time elapsed from the conviction, the relationship of the offense to the responsibilities of the job, subsequent employment history, and other relevant mitigating evidence.

"While the new law may be welcome relief for banks and credit unions for hiring otherwise qualified applicants in a tight job market that were previously disqualified from considering, the new law, counterintuitively, will create another level of complexity—or at least diligence—to applicant screening and onboarding for banks and credit unions."

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