NEW YORK -- JPMorgan Chase & Co. is announcing an expansion of its policy to hire more people with criminal records, potentially giving more former offenders a second chance to find work.
The bank said it plans to spend $7 million to support programs in Chicago, Detroit, Seattle, New York City, Nashville, Tennessee, and Delaware that work with people with criminal backgrounds to develop career skills. The bank already stopped putting questions about a person's criminal background on its applications and each year hires 2,100 people in the U.S. with criminal backgrounds.
JPMorgan also plans to add the issue to its public policy agenda. It will also push financial and federal regulators to allow more hiring of those with criminal backgrounds.