#FamiliesBelongTogether Demands Wells Fargo and JPMorgan Chase Stop Financing For-Profit Prison Companies Benefiting from Family Separation

WASHINGTON, DC – Today, the #FamiliesBelongTogether coalition calls on Wells Fargo and JPMorgan Chase to stop financing two large for-profit private prison corporations, CoreCivic and GEO Group, which operate immigration detention centers where separated families are being held against their will. Wells Fargo and JPMorgan Chase are leading financiers of CoreCivic and GEO Group.

More than 70 organizations, including the ACLU, the National Domestic Workers Alliance, MomsRising, MoveOn, In The Public Interest, Little Sis, ACRE, Color of Change, Make the Road New York, AVAAZ, Enlace, Presente.org, the Center for Popular Democracy, and more, are demanding that Wells Fargo and JPMorgan Chase stop financing these corporations that directly profit from family separation, detention, and incarceration. The petition comes at a crucial time when the population of immigrants held in private detention centers is expected to increase dramatically due to Trump’s harmful policies.

Cutting off the debt financing from banks would make it harder for CoreCivic and GEO Group to conduct day-to-day business operations, finance new facilities, and acquire smaller companies, all of which hurt immigrant families. An analysis of U.S. Securities and Exchange Commission (SEC) filings over the past ten years shows that Wells Fargo and JPMorgan Chase has played a leading role in financing these debts. JPMorgan Chase is the single largest financier to GEO Group and CoreCivic, holding 62 percent more debt than the second biggest lender to these two corporations.

“The Prison Industry Lobby is fueled by Wall Street and banks like Chase and Wells Fargo. This lobby has been successful thanks to these banks and REIT status in kidnapping people from our community and profiting from our communities pain. We are building Freedom Cities to demand cities and local institutions cut ties with these banks and invest in alternatives like municipal banks. Freedom Cities are building visionary campaigns for immigrants and communities of color, together we fight for our collective liberation,” said Daniel Carrillo, Enlace Executive Director.

SIGN THE PETITION

“This is an easy choice. JP Morgan Chase and Wells Fargo can choose to be on the right side of history and pull their financing for prisons that are directly profiting off the pain and trauma of families being inhumanely detained or separated by Trump’s ‘zero humanity’ policy. Or they can do nothing and condone one of the biggest humanitarian crisis of our recent history.” said Jess Morales Rockette, Political Director of the National Domestic Workers Alliance. “Basic decency should win over profits.”

“JPMorgan Chase and Wells Fargo want their customers to believe they stand with immigrants and people of color at the same time that they’re bankrolling oppression at private prisons and immigrant detention centers,” said Javier H. Valdés, Co-Executive Director of Make the Road New York. “Our community is not fooled—we see these backers of hate for what they are, and we are standing up to their hypocrisy.”

“By financing these for-profit prison corporations, Wells Fargo and JPMorgan Chase are complicit in the Trump Administration’s human rights abuses in the name of immigration enforcement,” said Kristin Rowe-Finkbeiner, Executive Director of MomsRising. “Millions of moms and families all over the country are outraged by the horror and abuse happening at these detention centers, and they will not stand for companies that further enable the separation of families.”

“The private prison industry emboldens the administration’s cruel immigration policies while making a killing from caging children and families. Private prisons run a morally bankrupt business model, causing great harm to our communities. No one should be in the torture-for-profit business,”said Matt Nelson, Executive Director of Presente.org. “We must deter private companies from investing, stop banks from financing, and eliminate the practice of elected officials granting contracts to this inhumane profit model. And, ICE should be abolished, and if you end the financial and political incentives that support the caging of immigrant families, as experts have said, the whole racket will fall on itself.”

“Trump needs private prison corporations in order to fulfill his racist promises, and private prison corporations need Wall Street banks in order to deliver,” said Jeremy Mohler, Communications Director of In the Public Interest. “We’re here to hold the banks accountable.”

“Our communities have suffered far too long at the hand of the private prison industry that profits from incarcerating people of color including immigrants,” said Cristina Jimenez, Co-Executive Director and Co-founder of United We Dream. “JPMorgan Chase and Wells Fargo are complicit in the pain and suffering our communities until they stop financing for-profit prisons and investing in this racist industry.”

The #FamilesBelongTogether coalition calls on Wells Fargo and JPMorgan Chase to end this complicity and immediately stop their financial support for organizations that are profiting from mass incarceration and the criminalization of immigration.

Participating organizations in the rapidly growing coalition include:

#VOTEPROCHOICE

270 Strategies

350.org

ACLU

Action Together Massachusetts

ACRE

Action Together Network

Advancement Project

American Federation of Teachers

America’s Voice

Al Otro Lado

Alliance for Justice

Alliance for Youth Action

American Constitution Society

American Ethical Union

American Human Rights Council (AHRC-USA)

Amnesty International USA

Anti-Defamation League

Arab American Institute

Asian Americans Advancing Justice | AAJC

ASISTA

Asylum Seeker Advocacy Project (ASAP) at the Urban Justice Center

Asylum Seeker Assistance Project

Avaaz

Bend the Arc

Beyond the Bomb

Center for Biological Diversity

Center for Gender and Refugee Studies

Center for Popular Democracy

Center for Victims of Torture

Centro de los Derechos del Migrante, Inc.

Chicago Women Take Action

Children’s Defense Fund-Texas

Church World Service

Coalition on Human Needs

Color of Change

Congregational UCC Greensboro

Congressional Hispanic Caucus Institute (CHCI)

Constitutional Accountability Center

Council on American-Islamic Relations

CREDO

Daily Kos

DC Immigration Hub

DC Teens Action

Dulles Justice Coalition

End Rape on Campus

Enlace

Equal Voice Action

Every Voice

Families Belong Together

Families USA

Feminist Majority Foundation

FIRM

Foreign Policy for America

Friends of the Earth

Gamaliel

Global Fund for Children

GreenLatinos

Greenpeace

Hand in Hand: The Domestic Employers Network

Health Care Voter

Hispanic Federation

Human Rights Campaign

Human Rights First

IfNotNow

Immigration Hub

Indivisible

In The Public Interest

Japanese American Citizens League

Jewish Voice for Peace

JStreet

JWI

Latin America Working Group

Latino Victory Foundation

Lawyers for Good Government

Leadership Conference for Civil and Human Rights

Leadership Conference of Women Religious

League of United Latin American Citizens (LULAC)

LGBTQ Task Force

Little Lobbyists

Little Sis

Make The Road New York

MarchOn

MomsRising

MoveOn

Muslim Advocates

NARAL

National Alliance to End Sexual Violence

National Asian Pacific American Women’s Forum (NAPAWF)

National Iranian American Council

National Justice for Our Neighbors

National Latina Institute for Reproductive Health

National Network to End Domestic Violence

National Nurses United

National Organization of Concerned Black Men

National Partnership for Women & Families

National Women’s Law Center

NCJW

National Domestic Workers Alliance

National Education Association

NETWORK Lobby for Catholic Social Justice

Network of Spiritual Progressives

NextGen America

One Billion Rising

Organizing for Action

Oxfam America

Pantsuit Nation

ParentsTogether

People For the American Way

People’s Action

Planned Parenthood Federation of America

Positive Women’s Network-USA

Presbyterian Church (USA)

Presente.org

Priorities USA

Public Citizen

Race Forward

Rainforest Action Network

Really American

Resistance Labs

SALDEF

Sanctuary for Families

SEIU

SIECUS

Sierra Club

Sister District Action Network

Sojourners

South Asian Americans Leading Together

Southern Poverty Law Center

Stand Up America

SumOfUs

Tax March

The Leadership Conference

The Workmen’s Circle

Together We Will Contra Costa

Truman National Security Project

UltraViolet

UnidosUS

Unitarian Universalist Association

Unitarian Universalist Service Committee

Unitarian Universalists for Social Justice (UUSJ)

United State of Women

United We Dream

VDay.org

Voto Latino

Win Without War

Women’s March

Women’s March Foundation Los Angeles

Women’s Refugee Commission

Youth Caucus of America

YWCA USA

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