(a) Board review.
(1) In determining whether to approve an
exemption application filed under section 238.87, the Board will consider
the extent to which the position that is the subject of the application
enables a person to:
(i) Participate in the major policymaking
functions of the savings and loan holding company; or
(ii) Threaten the safety
and soundness of any insured depository institution that is controlled
by the savings and loan holding company, the interests of its depositors,
or the public confidence in the insured depository institution.
(2) The
Board will also consider whether the applicant has demonstrated the
person’s fitness to hold the described position. Some positions may
be approved without an extensive review of a person’s fitness because
the position does not enable a person to take the actions described
in paragraph (a)(1) of this section.
(b) Factors. In making the determinations
under paragraph (a) of this section, the Board will consider the following
factors:
(1) The position;
(2) The amount of influence
and control a person holding the position will be able to exercise
over the affairs and operations of the savings and loan holding company
and the insured depository institution;
(3) The ability of the management of the
savings and loan holding company to supervise and control the activities
of a person holding the position;
(4) The level of ownership that the person
will have at the savings and loan holding company;
(5) The specific nature and circumstances
of the criminal offense. The question whether a person who was convicted
of a crime or who agreed to enter into a pretrial diversion or similar
program for a crime was guilty of that crime is not relevant;
(6) Evidence of rehabilitation;
and
(7) Any other relevant
factor.
