Trump’s favourite private prison company is down to its last dime.

Let’s make sure it can never borrow money again.

[ [link removed] ] Sign the petition 

   
John,

Geo Group, Donald Trump's favourite private prison company, helped build
his concentration camps along the Mexican-US border where kids were
separated from their parents. In Australia and the UK, courts have found
Geo Group responsible for deaths in its prisons.

Leading banks like JP Morgan, Barclay’s, and BNP decided to stop loaning
money to private prison companies costing Geo Group roughly one billion
dollars in loans and its stock price to plummet. But we can do better.

Geo Group has a 900 million dollar loan due in a couple of months and the
company is scrambling for money, begging banks to fund its inhumane
business. So it’s time for us to take action to cut off the private prison
company lifeline for good.

[ [link removed] ]Call on HSBC, Deutsche Bank, and US regional banks to stop financing
private prisons now.

Loaning to private prison companies means that banks are taking customers'
savings so the bank itself can profit off the interest payments of
companies that separate families, abuse migrants, and kill prisoners.

That's why the decade of work from organizers to push Bank of America, TD
Bank, Wells Fargo, and numerous pension funds around the world to end
financial ties with notorious prison companies is so important.

Yet, a few previous financiers have stayed silent – most notably European
banking giant HSBC and Deutsche Bank. Meanwhile, some regional US banks --
Citizens, Pinnacle, First Tennessee, and Synovus -- are also rumoured to
be interested in providing loans to Geo.

[ [link removed] ]HSBC, Deutsche Bank, and US regional banks: Publicly state your bank
will not have financial ties with Geo Group now.

We know that when we call on financial institutions to stop financing
private prison companies such as Geo Group, they listen. In 2020, Ekō
members helped launch a campaign calling on TD Bank to divest from Geo
Group. And within 24 hours, TD promised to recommit to never investing in
Geo again.

And through the pressure of tens of thousands of Ekō members, including
hundreds who showed up at Canada Pension Fund’s public events, we forced a
giant 300 billion dollar pension plan to stop its investment in Geo Group.

2024 could spell the end of the US prison industrial complex. US President
Joe Biden could keep his campaign promise to end for-profit immigration
detention in the last year of his current term. And if we can cut off the
money line to Geo Group, it could be the final blow to its current
business model. But only if we take action now.

[ [link removed] ]Stop financing private prisons now.



[ [link removed] ] Sign the petition 



Thanks for all that you do,
Angus and the team at Ekō


More information:

[ [link removed] ]HSBC's Financial Ties to Human Rights Violations in US Immigration
Detention Facilities run by CoreCivic and Geo Group
BankTrack. 20 May 2022.
[ [link removed] ]Private prison companies move to cut debt as activists hit home
Financial Times. 8 August 2020.

[ [link removed] ]Why big banks could be killing private prisons
CNBC. 2 January 2020.

[ [link removed] ]BNP Paribas backs away from U.S. private prison industry
Reuters. 13 July 2019.

[ [link removed] ]Barclays Is Latest to Cut Finance Ties With Private Prisons
Bloomberg. 13 July 2019.

[ [link removed] ]Geo Group Runs out of Creditors as 100% of its banking partners says no
to private prisons
Forbes. 30 September 2019.

 

 

Ekō is a worldwide movement of people like you, working together to hold corporations accountable for their actions and forge a new, sustainable path for our global economy.

Please help keep Ekō strong by chipping in $3. [link removed]