CNN - June 26, 2019
New York (CNN Business)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.
A spokesperson said Wednesday that Bank of America (BAC) has discussed the issue with its clients that provide those services. While the bank appreciates "steps they have taken to properly execute their contractual and humanitarian responsibilities," it ultimately decided to "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 said.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." ...
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