Not so anymore, especially for any job that entails (or may entail) access to the personal or financial information of others. Section 19 of the Federal Deposit Insurance Act (among others) has been a prime example of the law of unintended consequences. It would be laughable if the consequences for employers were not so high - $1,000,000 per day for non-compliance. This has many employers going overboard to check every aspect of a prospective employee’s background. My own employment - 8 years ago - was delayed for 2 weeks while the school district employee who verified graduation was on vacation. People who graduated from foreign high schools has been delayed months while their HS graduation info was verified.
That said, I doubt this applies to the OP. Drug testing, since it costs the employer real money, is usually the last thing required before hiring. No sense in paying for a drug test before all other questions are answered.
The whole “make a reasonable inquiry regarding an applicant’s history, which consists of taking steps appropriate under the circumstances” part makes employers nervous enough to check everything on the application/resume.
I don’t work for a financial institution, but we do outsourced work for some. That is enough to bring us under the purview of the law. We lost some good employees because of it.