JPMorgan has been criticized for lending to Geo Group and CoreCivic, private-prison companies that run facilities that have held immigrant families.
A detainee in 2017 sits on a bunk in a women's area at the Northwest Detention Center in Tacoma, Wash. The center is run by Geo Group.
“JPMorgan Chase has a robust and well-established process to evaluate the sectors that we serve,” spokesman Andrew Gray said in an emailed statement. “As part of this process, we will no longer bank the private-prison industry.”JPMorgan Chase & Co. has been criticized for lending to Geo Group Inc. and CoreCivic Inc., which run facilities that have held immigrant families.
“These divestment efforts are politically motivated and based on a deliberate mischaracterization of our role as a long-standing service provider to the government,” a Geo Group representative said in an emailed statement Tuesday. “Our company has never managed facilities that house unaccompanied minors, including those who may have been separated from their parents.”
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