Thanks to new federal banking and mortgage guidelines with $1-million-a-day penalties for noncompliance, banks are scrambling to fire any employee who has previously been convicted of a crime involving dishonesty. Among those tossed out: a bank employee with seven years’ service who used a slug in a washing machine in 1963, and a 58-year-old customer service representative with a shoplifting conviction forty years ago. A lawyer says thousands of employees have been fired under the new rules. [Des Moines Register/USA Today via ABA Journal]
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[…] points out that two of the heinous criminals caught up in the dragnet are: …a bank employee with seven years’ service who used a slug in […]
Wow! If true, amazing and tragic. Does anyone pay any attention in writing and promulgating laws?
Writes Ted Frank, “NB that if Dodd-Frank didn’t mandate these draconian rules, the EEOC would sue any employer who implemented them.” Good point.
[…] hire felons, even as its regulations force employers in the financial sector to fire “thousands of employees,” including exemplary employees who once committed misdemeanors decades ago. As Walter […]
[…] hire felons, even as its regulations force employers in the financial sector to fire “thousands of employees,” including exemplary employees who once committed misdemeanors decades ago. As Walter […]