PAI has partnered with National People’s Action to release the first in a series of reports on Wells Fargo’s ties to the private prison industry. Wells Fargo plays a critical role in the industry, providing financial backing in the form of major investments and financing agreements. Unlike any of its peers in the financial sector, Wells Fargo has significant financial ties to the top three private prison operators: CCA, GEO Group, and MTC. At the same time Wells Fargo is aggressively marketing to the Latino community, it is profiting from its ties to an industry that is premised on the exploitation and detention of Latino immigrants.
Banking on Immigrant Detention
Wells Fargo’s Ties to the Private Prison Industry