Skip to content

New E-Verify Rules

Answered by: 

Do the new E-Verify rules that are effective Sept 8th pertain to banks?

Many banks believe that because they offer U.S. Savings Bonds they are a "contractor" and these rules apply. But it is my understanding that is a stretch of the definition intended in the executive order. Banks do not qualify under the federal rules as a contractor for E-Verify application. Some state laws may impact this and you should contact your regulator or state association familiar with your laws for this.

For those this may be applicable to, the Department of Homeland Security implemented a rule requiring most federal contractors and subcontractors to use its E-Verify system to prove employees working on government projects are legally in the country. There were protests and court actions against this, which were defeated.

If applicable, you would need to comply with these rules and others under the Office of Federal Contract Compliance Programs (OFCCP). You may choose, based on your banks situation.

First published on 10/19/09

First published on 10/19/2009

Filed under: 
Filed under compliance as: 
Filed under security as: 
Filed under technology as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics