Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

JPMorgan wants to hire also people with registered criminal record, not only bankers

JPMorgan wants to hire also people with registered criminal record, not only bankers

JPMorgan wants to give people with criminal records a second chance at a good job, as there is no evidence that they are less trustable then bankers anyway.

The United States is boasting its lowest unemployment rate in nearly 50 years, but that doesn't hold true for people with prior convictions. Enter the largest bank in the country, which said on Monday it wants to level the playing field.

"When someone cannot get their foot in the door to compete for a job, it is bad for business and bad for communities that need access to economic opportunity," said JPMorgan (JPM) CEO Jamie Dimon in a press release.

The bank said it wants to broaden its pool of potential employees after already hiring some people with a conviction on their record for entry-level jobs, like transaction processing and account servicing.

The United States loses between $78 billion and $87 billion in annual GDP by excluding people who have a criminal record from the workforce, according to the bank. Studies also show that providing education and opportunities also reduces recidivism.

"Jamie [Dimon] believes, and we believe as a firm, that business has an important role to play in building a more inclusive economy," Heather Higginbottom, president of the newly launched JPMorgan Chase PolicyCenter, told CNN Business.
Financial institutions are regulated by the Federal Deposit Insurance Corporation as far as hiring goes. The agency began relaxing the rules last year.

JPMorgan has now "banned the box" that asks prospective employees whether they have a criminal record.


Barriers to entry

But there are still plenty of employers requiring the disclosure of prior convictions, and that poses a barrier to entry to the job market for people with a criminal background.

Because of that, the unemployment rate is much higher for Americans with records than for those without. In fact, it's an estimated 27% for the roughly five million formerly incarcerated people in the country, according to JPMorgan. That is compared with 3.5% for the United States as a whole.

A record that is eligible for pardon or to get expunged shouldn't matter for a job applicant, Higginbottom said.
But if you robbed a bank, chances are you're still not getting hired by JPMorgan.

"We're not lowering our hiring standards," Higginbottom said.

Last year, 10% of its hires - 2,100 people - had some sort of criminal record, she added. Crimes ranged from disorderly conduct to personal drug possessions and DUI charges.

Getting a record expunged can be confusing and the process differs from state to state, Higginbottom said. A study done in Michigan showed that only 6.5% of people eligible for a clean slate actually go through the process of expunging their records. Pennsylvania, Utah and California have passed laws to automate the process. A handful of other states are moving to do the same.

JPMorgan said it will be working with community organizations that can help guide people in the process.
The bank said it will invest some $7 billion in community organizations in cities including Chicago, Detroit and Nashville to support people with a criminal past.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×