This article is reposted with permission from MomsRising.org
Private prison companies are not only making huge profits from the incarceration and detention of immigrants, they are also a huge political force in lobbying for the legislation and policies that criminalize immigrants and communities of color in the U.S.
But private prisons are not the only ones making money here. Two of the private prison industry leaders, CoreCivic and GEO Group, depend on debt financing from Wells Fargo and other banks to conduct their day-to-day business operations, finance new facilities, and acquire smaller companies. This is a big deal. An analysis of U.S. Securities and Exchange Commission (SEC) filings over the past 10 years shows that Wells Fargo has played a leading role in financing these debts.
Follow the money. As consumers, we have the power to stop this!
Sign the Petition!
Wells Fargo needs consumers like you and me in order to keep their business afloat, so our voices are powerful. We can demand that Wells Fargo stop financing private prisons, and thereby stop the construction of new private prisons to house immigrant children and families, stem the political power of private prison lobbyists, and send a warning message to other banks that consumers will not tolerate the use of their deposits to finance the private prison industry.
Imprisoning children with families is still imprisoning children!
Studies have shown that detention, even with families, is traumaticfor children and can have long term health and developmental effects.
It’s time for everyone who cares about our democracy and the future direction of our country to use our voices, our votes, and the power of our pocketbooks to fight against human rights abuses in the name of immigration enforcement.
Sign the Petition!
Wells Fargo MUST stop financing this pain! There are alternatives to detention that are not only more compassionate for children and families, but also more fiscally responsible. In FY18, the Department of Homeland Security estimated that it cost on average $319.37 dollars a day, per family member, to incarcerate a family on the border. On the other hand, with the Family Case Management Program, (which the Trump administration terminated in 2017), children and their parents were provided with individualized family service plans, and had a proven 100% success rate ensuring the family attend their hearings, and it cost only $36, per family, per day!
We believe that families seeking safety in our country need protection and opportunity. Children deserve to be with their families outside of cages and they deserve to have their rights protected.
Join us today in telling Wells Fargo that they MUST stop the financing of CoreCivic and GEO Group. They MUST stop financing pain for corporate gain!