NCUA approves ‘second chance’ rule to allow offenders to work in CU industry
The NCUA board Thursday said it will no longer ban for a lifetime those who have been convicted of certain crimes
The National Credit Union Administration approved a final rule allowing people with convictions for certain minor or older offenses to work in the credit union industry without applying for the NCUA board’s approval.
The rule eliminates the current lifetime ban for those with disqualifying convictions from work in the sector.
“Providing career opportunities for those who want nothing more than a second chance — to be responsible, to earn an honest wage, and to pursue a rewarding career in the credit union system — is a tale of redemption and inspiration,” NCUA Chairman Todd Harper said at the agency’s monthly board meeting Thursday. “It’s also a matter of equity. And, it proves people have the capacity to make amends and change the direction of their lives for the better.”
The rule generally prohibits, except with the prior written consent of the NCUA board, a person who has been convicted of or has a program entry for certain criminal offenses involving dishonesty or breach of trust from participating in the affairs of a credit union.
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