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  • Lawrence Baines

July News on Privatization



U.S. BANKS REFUSE TO PROVIDE FUNDING FOR PRIVATE PRISONS

July 2019


Thanks to Robert for forwarding a research brief about the exodus of American banks from the private prison sector. "This year, JPMorgan Chase, Wells Fargo, Bank of America, SunTrust, BNP Paribas, and Fifth Third Bancorp publicly announced that they would no longer provide any new financing to the private prison industry. Together these six banks represent an estimated $1.93 billion, or 72% of the total current financing available to private prison companies, CoreCivic and GEO Group."


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