Without access to credit, ex-cons may return to lives of crime – Carlos Fernando Avenancio-León

Carlos Fernando Avenancio-León, Researcher, Golub Center for Finance and Policy, MIT Sloan School of Management

From The Hill 

Every week, more than 10,000 prisoners are released from U.S. prisons and begin the long process of reintegrating into society.

For many, a successful reintegration will occur only if they can access the types of credit commonly used by all American citizens, such as credit cards and auto loans. For those unable to borrow, prospects for successful re-entry fall and recidivism risks rise. That’s bad for all of us.

Lack of access to credit can push former inmates into poverty traps and cycles of criminal behavior that hurts us all, but there are solutions that can change that.

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