WASHINGTON (CN) - Certain employees of savings and loan holding companies convicted of a crime involving dishonesty, breach of trust or money laundering may keep their jobs a year longer, according to an extension to an Office of Thrift Supervision exemption.
The employees who must leave once the exemption expires are "institution-affiliated parties," those who own or control a savings and loan holding company, and those who participate in the conduct of the affairs of a savings and loan holding company.
The exemption applies to convicts and those who went to diversion programs who already held positions at a savings and loan as of the enactment of Section 19(e) of the Federal Deposit Insurance Act.
Click on the document icon for this and other new regulations.
Subscribe to Closing Arguments
Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.
Additional Reads
-
Oregon relay takes runners 200 miles through mountains, forests September 6, 2024 -
Contributor-Test-Post-2024-09-05 September 5, 2024
-
-
Republican states sue to block Obamacare for Dreamers August 8, 2024