The Federal Reserve Board’s recent research, presented in the Finance and Economics Discussion Series (FEDS 2026), analyzes 2023‑2024 Survey of Household Economics and Decisionmaking data to assess financial outcomes for individuals with justice system contact. Findings show that people who have ever been arrested but not convicted are four percentage points less likely to report at least an ‘okay’ financial status compared with those with no criminal record. Formerly convicted and incarcerated adults are 15 percentage points less likely to report adequate financial well‑being, and those who have been incarcerated are 21 percentage points less likely to have credit scores above 660 and 13 percentage points less likely to possess a credit card. The study highlights significant barriers to financial stability for justice‑involved populations, suggesting a need for policies that improve financial inclusion.
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