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Banking

Jul. 28, 2011

Banking regulation causes job crisis

Thousands of employees of financial institutions with low-level misdemeanors will soon be terminated or placed on unpaid leave of absence. By Matthew K. Higbee and Joshua Malter of Higbee & Associates


Thousands of employees of financial institutions, who have low-level misdemeanors, will soon be terminated or placed on unpaid leave of absence as a result of new employee registration requirements pursuant to the Secure Fair Licensing Act (SAFE Act) of 2008. The strict requirements for registration will force thousands of people to find a new career as a result of low-level misdemeanors that are sometimes decades old.


The SAFE Act, which was passed in the wake o...

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