MomsRising.org | SunTrust & BNP Paribas - Stop Financing Pain For Corporate Gain!

SunTrust & BNP Paribas - Stop Financing Pain For Corporate Gain!

SunTrust & BNP Paribas are financing for-profit prison corporations that are profiting off the pain and suffering of families. Moreover, SunTrust is a leading lender to Caliburn, a corporation that runs Homestead, a migrant child detention facility which has come under scrutiny.

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Sign on to urge SunTrust & BNP Paribas to STOP financing private prisons! #FamiliesBelongTogether #NoProfitsFromPain

Dear William Rogers Jr. (SunTrust) and Jean-Laurent Bonnafé (BNP Paribas),

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 SunTrust and BNP Paribas have had a major role in financing private prison companies. [4] In doing so, SunTrust and BNP Paribas are complicit in and profiting from mass incarceration and the criminalization of immigration. [5] We demand that you stop financing private prisons and for-profit detention centers.

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://populardemocracy.org/sites/default/files/(Updated)%202019%20Data%20Brief%20The%20Wall%20Street%20Banks%20Still%20Financing%20Private%20Prisons%20FINAL%20EMBARGOED%20UNTIL%204-8-19%201030am.pdf

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