In a tremendous win for both criminal justice and immigrant rights, JP Morgan Chase announced this week that it will stop financing private prisons. The bank will cut funding to GEO Group and CoreCivic, the two largest operators of private prisons and detention centers in the United States according to Forbes. The most recent effort for mass incarceration divestment was championed by the Families Belong Together coalition with more than 80 organizations including Make the Road New York who spearheaded the #BackersOfHate campaign against Chase since 2017.
With Chase's decision, the pressure is on Wells Fargo, Bank of America and other major financial institutions to follow suit. Click here for more on the #BackersOfHate campaign.