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Bank of America & SunTrust - Stop Financing Pain For Corporate Gain!

Bank of America and SunTrust are financing for-profit prison corporations that are profiting off the pain and suffering of families.

Sign on to urge Bank of America and SunTrust to STOP financing private prisons! #FamiliesBelongTogether #NoProfitsFromPain

Dear Bank of America and SunTrust,

The private prison industry is detaining over 70 percent of immigrants in ICE custody and are complicit in the epidemic of mass incarceration that devastates communities of color. [1] Research shows that many private prisons have documented histories of human rights abuses. [2]

Private prison companies like CoreCivic and GEO Group depend on funding from banks like yours 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) 2018 filings, show that Bank of America and SunTrust have had a major role in financing these private prison companies. [4] In doing so, Bank of America and SunTrust are complicit in and profiting from mass incarceration and the criminalization of immigration. [5,6] We demand that you stop financing private prisons.

Sincerely,

[1] https://immigrantjustice.org/staff/blog/ice-released-its-most-comprehensive-immigration-detention-data-yet, https://www.nytimes.com/2018/10/01/us/prisons-immigration-detention.html

[2] https://www.aclu.org/report/shutting-down-profiteers-why-and-how-department-homeland-security-should-stop-using-private, https://populardemocracy.org/sites/default/files/20180427%20CBOH%20Digital.pdf, https://oig.justice.gov/reports/2016/e1606.pdf, https://www.hrw.org/report/2018/06/20/code-red/fatal-consequences-dangerously-substandard-medical-care-immigration, https://www.migrationpolicy.org/article/profiting-enforcement-role-private-prisons-us-immigration-detention

[3] https://moms.ly/BanksFinancingPrivatePrisons, https://news.littlesis.org/2018/06/21/who-is-profiting-from-incarcerating-immigrant-families/, https://populardemocracy.org/sites/default/files/20180427%20CBOH%20Digital.pdf, https://www.inthepublicinterest.org/wp-content/uploads/ITPI_BanksPrivatePrisonCompanies_Nov2016.pdf

[4] https://moms.ly/BanksFinancingPrivatePrisons https://www.inthepublicinterest.org/wp-content/uploads/ITPI_BanksPrivatePrisonCompanies_Nov2016.pdf

[5] https://moms.ly/BanksFinancingPrivatePrisons

[6] https://moms.ly/BanksFinancingPrivatePrisons, https://www.inthepublicinterest.org/wp-content/uploads/ITPI_BanksPrivatePrisonCompanies_Nov2016.pdf

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Are You a SunTrust Customer?

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