Wells Fargo and JPMorgan Chase: Stop Financing Pain for Corporate Profits!
Timothy Sloan, CEO, Wells Fargo and Jamie Dimon, CEO, JPMorgan Chase
CoreCivic and GEO Group earn billions of dollars operating prisons, jails, and immigration detention centers used to incarcerate people and separate parents and children. As two of the largest financiers of these prison corporations, JPMorgan Chase and Wells Fargo are complicit in the suffering of too many families. Certain politicians, government agencies, and corporations are rigging the rules of our justice system to criminalize Black people, immigrants and poor folks at disproportionately high rates. They distract and divide the rest of us by provoking fear and hatred of these communities, while banks, private prisons and lobbyists enrich themselves in pursuit of even more people to detain and jail.
It’s time to unite and say, “Enough is enough!” By coming together across races, we can push banks to get out of the cruelty business. Sign our petition to tell Wells Fargo and JPMorgan Chase to stop financing private prison companies!
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To:
Timothy Sloan, CEO, Wells Fargo and Jamie Dimon, CEO, JPMorgan Chase
From:
[Your Name]
Dear Wells Fargo and JPMorgan Chase,
We are outraged by Wells Fargo’s and JPMorgan Chase's roles in financing CoreCivic and GEO Group, two large for-profit prison corporations that are profiting off the separation and pain of families. 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.
Two of the 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.
Sincerely,