Question on bank officers.

I read the bankruptcy thread and I have had this question posed to me. Can a person be promoted to an executive officer and/or say Asst. Vice President or Vice President after they have filed bankruptcy twice in the last 10 years? A employee asked me this question and said they had heard, No they cannot be promoted to a high position in a bank due to personal bankruptcy let alone doing it twice or maybe more.

Thanks for any response. Also who would know outside of the employee, unless he or she divulged it?

Tell the employee to show you their source. No one has time to chase down these unicorns.

17 CFR 229.401 - (Item 401) Directors, executive officers, promoters and control persons.

Not sure an AVP makes "significant contributions", as the code states. But what bank wants to push the envelope and bring scrutiny down on them?

OP here. I appreciate the responses. There is a little more to the story that cannot be brought up but I was just wondering. Thanks again.

Norman this was an after hours discussion off the clock. So any chasing would have been done on their time. They were just asking me if I had knowledge and I did not.