Does Wells Fargo invest in private prisons?

Wells Fargo has been identified as one of the six major banks supporting private prisons and immigrant detention. Wells Fargo has also been identified as one of the investors that own over one million shares in CoreCivic and GEO Group, dubbed as “The Million Shares Club” and targeted by Freedom to Thrive.

How many prisoners are in the United States?

2.3 million people

What is the biggest jail in the United States?

Los Angeles County prison

Who runs state prisons?

California Department of Corrections and Rehabilitation

Did TD Bank invest in private prisons?

We just found out that in the midst of the pandemic, TD Bank increased its shares in private prisons giant GEO Group by a whopping by 8000%. This is why every major bank in the world promised to end financial ties with GEO Group and CoreCivic in 2019 — a massive victory against the American prison industrial complex.

Are most prisons privately owned?

Private prisons in the United States incarcerated 115,428 people in 2019, representing 8% of the total state and federal prison population. Since 2000, the number of people housed in private prisons has increased 32% compared to an overall rise in the prison population of 3%.

Are private prisons publicly traded?

Companies own or manage 75% of U.S. detention facilities. Two of the biggest companies, CoreCivic and The GEO Group, are publicly traded. In 2018 alone, private prison companies received about $2.3 billion in federal immigration and corrections contracts, according to data compiled by Public Citizen.

What state got the most prisons?

The ten states with the highest prison populations in the country are:

• Texas – 154,479.
• California – 122,417.
• Florida – 96,009.
• Georgia – 54,113.
• Ohio – 50,338.
• Pennsylvania – 45,485.
• New York – 43,439.
• Arizona – 40,951.

What countries have private prisons?

However, although the scope of prison privatization is relatively wide, it appears most concentrated and most fully privatized in a handful of predominantly English-speaking countries. These include Australia, Scotland,10 England and Wales, New Zealand, South Africa, and the United States.

What companies invest in prisons?

12 Major Corporations Benefiting from the Prison Industrial…

• McDonald’s. McDonald’s uses inmates to produce frozen foods.
• Wendy’s. Wendy’s has also been identified as relying on prison labor to reduce it’s cost of operations.
• Wal-Mart. The company uses inmates for manufacturing purposes.
• Starbucks.
• Sprint.
• Verizon.
• Victoria’s Secret.
• Fidelity Investments.

What banks fund private prisons?

Major banks—including Wells Fargo, SunTrust, Bank of America, BNP Paribas, Barclays and Fifth Third Bankcorp—have announced they would stop financing private prison companies after reports of abusive and dangerous conditions in for-profit prisons and detention centers spurred public condemnation.