Supporting Returning Citizens’ Financial Health
Drawing on insights from recent pilot projects, this brief discusses ways in which stakeholders across sectors can empower people coming out of prison to access identification and financial services.
Connecting Returning Citizens with ID and Bank Accounts: Lessons for Policymakers and Practitioners
Fintechs focus on supporting people caught in the justice system
Individuals who spend time in prison can experience devastating financial consequences at every turn. They may struggle with the cost of posting bail, lose wages while incarcerated and watch debt snowball with legal fees and fines.
ID Access for Returning Citizens: Learnings from the Field
Access to mainstream financial services, like a bank account, is critical to financial health and provides people with a safe way to store money, transact, pay bills, and build savings. But, being “banked” remains a financial health challenge for many. In 2019, according to the FDIC, more than 5% of U.S. households – 7 million […]
A New Alabama Law Brings Opportunities, Challenges for Reentering Citizens
For the nearly 600,000 Americans who return to their communities from incarceration each year, reestablishing financial stability and access to safe financial products is key to improving financial health. For many returning citizens, lack of ID can limit employment and housing opportunities. There are several reasons returning citizens may leave incarceration without ID: They may […]
Increasing the Financial Health & Employment Opportunities of Returning Citizens
To help lower barriers to financial health and improve employment outcomes for returning citizens, the Financial Solutions Lab has awarded grants to five nonprofit and fintech partnerships working across the United States as part of our 2021 Exchange cohort.
Support from Social Networks
Family and friends are a major lifeline for justice-involved individuals, providing support and advice from pre-trial to post-release.
Managing Financial Obligations
Once justice-involved individuals are released from jail or court, they are still not released from their financial obligations to the criminal justice system.
Employment Challenges
Once justice-involved individuals re-enter society, there are numerous barriers to gain employment that often force them to make difficult decisions.