Leaders in Screening for the Banking Industry

When customers take their business to your organization, they are placing a great deal of trust in your company as well as the people you employ. Whether it be a credit union, accounting firm, or bank, entrusting financial information with an individual requires confidence. In the banking industry, the background screening of any applicant is heavily mandated by the Federal Deposit Insurance Corporation (FDIC). The FDIC has set in place specific guidelines in the Federal Deposit Insurance Act (FDIA).

Federal Deposit Insurance Act (FDIA) Guidelines

All bank employees must have a full background check screening performed as stated in Section 19 of the FDIA:

“Section 19 of the Federal Deposit Insurance Act prohibits any person who has been convicted of any criminal offense involving dishonesty or a breach of trust or money laundering, or has agreed to enter into a pretrial diversion or similar program in connection with a prosecution, from becoming or continuing as an institution-affiliated party; owning or controlling, directly or indirectly, an insured institution; or otherwise participating, directly or indirectly, in the conduct of the affairs of an insured institution without the prior written consent of the FDIC.”

The FDIA goes on to say:

“…[A] pre-employment background screening process should be established by all financial institutions that, at a minimum, uncovers information regarding a job applicant’s convictions and program entries to ensure that only appropriate persons are employed, or that an application for FDIC consent is sought, if applicable…”

At Verification Services Inc., our goal is to ensure accurate and precise education, credit, and criminal screenings. This helps to assist employers in gathering a more well-rounded feel for their applicant, in addition to meeting every FDIC guideline necessary. Call one of our FDIA guideline and bank employee screening experts today at 800-809-7732 for more information or to become our client.