Banks Are Turning to Ex-Offenders as U.S. Jobs Market Tightens

The U.S. labor shortage is placing new urgency on the search for workers, and some of the top U.S. banks say people with criminal records should be part of the solution.

The Bank Policy Institute, an advocacy group that counts JPMorgan Chase & Co. and Bank of America Corp. among its members, is planning a lobbying effort to persuade Congress to ease restrictions on the hiring strategy.

“There is a really huge demand for talent in every industry in every labor market, and this is a talented set of individuals who can and should be able to contribute in ...