Bank of America Cuts Ties With Companies That Help Run Detention Centers

Le·gal In·sur·rec·tion | 6/28/2019 | Mary Chastain
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Bank of America joined JP Morgan and Wells Fargo by deciding not to do any business with private companies that help fun detention centers.

From USA Today:

Sector - Policy - Government - Needs - Demands

“The private sector is attempting to respond to public policy and government needs and demands in the absence of long standing and widely recognized reforms needed in criminal justice and immigration policies,” the statement read. “Lacking further legal and policy clarity, and in recognition of the concerns of our employees and stakeholders in the communities we serve, it is our intention to exit these relationships.”

Bank of America was a chief financier of Caliburn, which runs a facility called Homestead that houses unaccompanied migrant children, The Miami Herald reported last month. Caliburn, which operates under a U.S. government contract, received a $380 million loan and a $75 million credit line from Bank of America, the Herald reported, citing documents filed with the Securities and Exchange Commission.

Decision - Texas - Republican - Sen - John

The decision has made Texas Republican Sen. John Cornyn think about switching banks.

Earlier this week, Wayfair employees protested after learning products from the website went to detention centers. Not just any products, but beds and mattresses specifically for children.

Wayfair

Wayfair’s...
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