MoCaFi and the City of Detroit Mutually Agree To Terminate Detroit-ID Relationship

July 22, 2022 — The City of Detroit purchased municipal identification services from Mobility Capital
Finance, Inc. (MoCaFi). In light of concerns from local interest groups regarding using data to create the
identification cards and with less than 1,000 cards produced, we agreed with the City of Detroit to stop
providing this service.

The City asserted in a statement that it had received no complaints or indication of any misuse of the
collected data. The statement reads, “the concerns raised by some are false and have no legitimate relation
to the Detroit ID program. Because this false information was being spread throughout the immigrant
community, we agreed with MoCaFi on Friday to shut down the Detroit ID program to stop the spread of

MoCaFi has not sold and does not sell personal information to third parties, including Immigration and
Customs Enforcement (ICE) and other government agencies. MoCaFi does not share personal
information with law enforcement agencies unless required to do so by law.

MoCaFi was founded on creating equitable and inclusive communities for everyone and recognizes and
celebrates the dignity and humanity of all people. This company was born out of a commitment to address
the needs of people of color whom traditional banking institutions have systematically disenfranchised.

As we continue to reimagine financial products and services to empower and elevate communities, we
will remain vigilant to continue serving individuals ethically, transparently, and respectfully.