From Moms Rising (https://www.momsrising.org/):
WE WON! In no small part due to the pressure of MomsRising members and over 100 organizations who are part of the #FamiliesBelongTogether Corporate Accountability Committee, Bank of America just announced they will no longer fund private prisons & detention centers! [1]
Stopping banks from financing private prisons and private child migrant detention centers is a powerful way to curb the Trump administration’s ability to continue increasing incarceration of immigrant children and families and communities of color. Thanks to all of you who signed petitions and showed up at rallies! This is YOUR victory!
We are thrilled about this win, but we know we have more work to do. There are still banks, such as SunTrust and BNP Paribas that are continuing to finance private prisons.
Sign now at https://action.momsrising.org/sign/Suntrust_Paribas_Petition to say “no more!” to SunTrust and BNP Paribas profiting from the suffering of families in detention and mass incarceration!
Over the past few weeks and months, we have seen the heartbreaking photos of children and families being kept in inhumane conditions by our own government. We must use the power of our consumer voices to cut off the corporate money behind Trump’s unconscionable immigration policies!
Why is this important?
Private prisons are a key component of President Trump’s plan to incarcerate immigrant children and families and are part of the system of mass incarceration that has particularly devastated communities of color. This is a big deal. More than 70% of immigrants in immigration custody are in private prisons. [2]
Private prison companies, like CoreCivic and GEO Group, two of the largest for-profit prison and detention corporations, depend on funding from banks to conduct their day-to-day business operations, finance new facilities and acquire smaller companies. [3] A 2019 analysis of GEO Group and CoreCivic’s Securities and Exchange Commission (SEC) filings and other documents, found that SunTrust and BNP Paribas have had a major role in financing private prison companies. [4]
Moreover, SunTrust is a major lender for Caliburn, a corporation that is running for-profit migrant child detention facilities. There have been numerous reports that Homestead Shelter, which is run by Caliburn, has overcrowded conditions and children being detained for weeks, and even months, with no clear end in sight. [5] According to SEC filings, SunTrust has committed $60 million in revolving credit and term loans to Caliburn. [6] The bank is also a top lender to private prison operators GEO and CoreCivic. [7] And what’s more shocking — Caliburn recently announced that John Kelly, former chief of staff for President Trump, has joined its board of advisers. [8]
Sounds fishy? We can use our consumer voices to cut off the corporate money behind President Trump’s cruel immigration policies that incarcerate children and families and to help stop the profit motive for making our country the one with the highest incarceration rate in the world.
Our voices are powerful! In fact, because of moms, dads, and people who care about families lifting their voices all over the country, both Wells Fargo Bank and JPMorgan Chase have declared that they will no longer finance private prisons! [9] And now Bank of America is joining them! Let’s make sure to keep the momentum going!
Tell SunTrust and BNP Paribas to stop financing private prisons!
Most parents would do anything to make sure their children have a safe, free, and healthy life, but across our country, parents have been cruelly separated from their children and held in private prisons where they are unable to care for, or even see their children. Moreover, many private prisons have documented histories of inadequate medical care and human rights abuses and are part of the system of mass incarceration that has particularly devastated communities of color. [10]
The consumer voices of moms are powerful! Halt the expansion of private prisons and mass incarceration. We have already made a big difference, because of your actions, bank after bank has committed to stop financing private prisons.
There can be no business in putting children and families behind bars! It’s time for SunTrust and BNP Paribas to stop financing private prisons!
YOUR VOICE IS POWERFUL!
Join us in demanding that SunTrust and BNP Paribas stop financing private prisons!
Together we can win the fight to end funding for private prisons and secure a brighter future for all children and families.
[1] Bank of America Will Stop Lending to Private-Prison Firms. [2] For Private Prisons, Detaining Immigrants Is Big Business. [3] Who is Profiting from Incarcerating Immigrant Families? [4] The Wall Street Banks Still Financing Private Prisons. [5][7] Bank of America Says It Will Stop Financing Private Prisons & Detention Centers. So Should SunTrust. [6] SEC – CREDIT AGREEMENT [8] John Kelly joins board of company operating largest shelter for unaccompanied migrant children. [9] JPMorgan to stop financing private prisons and detention centers after protests [10] SHUTTING DOWN THE PROFITEERS: WHY AND HOW THE DEPARTMENT OF HOMELAND SECURITY SHOULD STOP USING PRIVATE PRISONS, Code Red The Fatal Consequences of Dangerously Substandard Medical Care in Immigration Detention
Leave a Reply