Bank of America has announced they are going to be cutting their business ties with any company that helps provide prisoner or immigrant detention services for state or federal governments.
CNN Business reports a Bank of America spokesperson said the bank had spoken with clients concerning the issue and while it recognizes “steps they have taken to properly execute their contractual and humanitarian responsibilities, but decided nonetheless “exit the relationships.”
“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,” the spokesperson continued.
Here’s more, from CNN Business:
The Miami Herald previously reported that Bank of America was a financier of Caliburn — which the newspaper said runs a facility called Homestead under a US government contract. The Herald said the bank provided a $380 million loan to the company and a $75 million credit line. The paper indicated Homestead is not a prison, but “protesters say it functions as one. The minors held inside are not allowed to leave.”
Bank of America declined to comment Wednesday regarding the companies with which it had previously worked.
Private prisons have been in the spotlight. On Friday, Democratic presidential candidate Elizabeth Warren called for private correctional and detention facilities to be banned. Shares of private prison operators dropped following her remarks.
Bank of America will end its association with companies that provide prisoner and immigrant detention services at both the state and federal levels.
The move comes amid growing public concern about the nation's border policies. https://t.co/H8Cor9K5mk
— CNN (@CNN) June 27, 2019
Bank of America’s announcement comes as both chambers of Congress have passed their own respective bills to help provide aid for migrants at the border. Reuters reports:
Trump on May 1 requested the aid for programs that house, feed, transport and oversee record numbers of Central American families seeking asylum in the United States and straining capacity at migrant shelters in border cities.
The Republican president, who spoke with Democratic House Speaker Nancy Pelosi on Wednesday, told reporters he believed Pelosi “wants to get something done.” He was optimistic about a congressional solution to help U.S. officials at the border who say they are overwhelmed by the surge of migrants.
Congressional leaders have a choice between a bill from the Republican-controlled Senate and a more restrictive $4.5 billion bill passed by the Democratic-led House on Tuesday night. They also could strike a compromise and send that to Trump.