april, 2018

24apr9:30 am3:30 pmReimagining Opportunity: Financial Inclusion for Customers with Criminal Records

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Event Details

Incarceration marks people with a label that makes it difficult to reestablish stability in mainstream society. By 2030, it is estimated that 100 million Americans will have an arrest and/or conviction record, and presently 1-in-3 adults have been in contact with the U.S. criminal justice system. Washington, D.C. has one of the highest incarceration rates in the United States; about 20,000 D.C. residents are in the criminal justice system and approximately 68,000 have criminal records.

Returning citizens face significant financial (both personal and business) hurdles: managing finances in and out of prison; job discrimination as a result of incarceration or a criminal record, with a resulting lack of personal capital; gentrification impacting the communities to which they return; and a lack of affordable housing, particularly in urban areas. Of the needs of returning citizens, the two that can have the most impact are affordable housing and financial services. These foundational services impact all aspects of an individual’s wellbeing.

Capital Impact Partners and Mission: Launch saw an opportunity to bring together local and regional financial institutions, nonprofits, civil society organizations, and local Washington, D.C. government officials to use the District as a microcosm and identify and develop solutions to help reduce recidivism and give returning citizens a chance to start anew.

Capital Impact Partners and Mission: Launch are hosting a convening on April 24 to organize and energize a Washington, D.C. network of financial institutions interested in learning about the banking/financial needs of individuals with an arrest and/or conviction record. This work will open pathways to expand financial inclusion for returning citizens through best practice sharing for leveraging retail banking, consumer loans, small business loans, and economic development.

For more information about this event or Capital Impact’s focus on criminal justice and financial inclusion, please contact Ron Kelly at rkelly@capitalimpact.org.

Time

(Tuesday) 9:30 am - 3:30 pm EST

Location

FHI 360 Conference Center

1825 Connecticut Avenue, NW

Organizer

Capital Impact Partners and Mission: Launch

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