We are outraged by Wells Fargo’s role in financing CoreCivic and GEO Group. Private prison companies hold contracts to operate hundreds of prisons, jails, and immigration detention centers across the country that are being used to incarcerate and separate families.
Private prison industry leaders CoreCivic and GEO Group depend on debt financing from banks like yours to conduct their day-to-day business operations, finance new facilities, and acquire smaller companies. 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. In doing so, Wells Fargo is complicit in and profiting from mass incarceration and the criminalization of immigration.
We demand that you immediately stop financing CoreCivic and GEO Group.