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Bank of America Cuts Ties With Companies That Help Run Detention Centers

Bank of America Cuts Ties With Companies That Help Run Detention Centers

Bank of America has a right to do so. Consumers also have the right to change banks.

https://www.youtube.com/watch?v=zEENvCBXLQQ

Bank of America joined JP Morgan and Wells Fargo by deciding not to do any business with private companies that help fund detention centers.

From USA Today:

“The private sector is attempting to respond to public policy and government needs and demands in the absence of long standing and widely recognized reforms needed in criminal justice and immigration policies,” the statement read. “Lacking further legal and policy clarity, and in recognition of the concerns of our employees and stakeholders in the communities we serve, it is our intention to exit these relationships.”

Bank of America was a chief financier of Caliburn, which runs a facility called Homestead that houses unaccompanied migrant children, The Miami Herald reported last month. Caliburn, which operates under a U.S. government contract, received a $380 million loan and a $75 million credit line from Bank of America, the Herald reported, citing documents filed with the Securities and Exchange Commission.

The decision has made Texas Republican Sen. John Cornyn think about switching banks.

Earlier this week, Wayfair employees protested after learning products from the website went to detention centers. Not just any products, but beds and mattresses specifically for children.

Wayfair’s co-founder and chief technology officer Steve Conine had a hard time defending the company’s choice to ship products detention centers. From Forbes:

I mean, we’re not a political entity. We’re not trying to take a political side in this.” When asked whether their team that handles large corporate and government orders had a code of ethics, Conine responded, “We should think about a code of ethics. And I think that’s something as a company that we should have a conversation around, we should put together. We should put some thought into that.”

Do Wayfair employees not want children to have beds and mattresses? Do they realize, or care that charity organizations placed those orders?

And now Bank of America won’t finance companies that help run these centers, denying them money to keep working to make the facilities better. Fixing and expanding these centers will not happen overnight. They are meant to house people for maybe a few hours, not days and days.

Does anyone else see how backward this is? Where is common sense?

Depriving companies of the ability to make detention centers better for the people they’re temporarily housing boggles my mind.

[Featured image via YouTube]

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Comments

JusticeDelivered | June 28, 2019 at 4:18 pm

Gee, this is funny, I dumped BofA at least ten years ago over their unsavory business tactics. People need to wise up, avoid these big banks, favor smaller regional banks and credit unions.

    I did the same … if I remember correctly it was because they were allowing mortgages to illegals. It wasn’t a small checking account. The manager called me several times to reconsider. I went with a smaller local bank – and I checked their business practices beforehand.

      The Friendly Grizzly in reply to walls. | June 28, 2019 at 4:49 pm

      It’s not just the mortgages too illegals. It’s not requiring the same forms of ID from legals and citizens to open accounts in the first place. A “matricula consular” card does the trick if se nabla Español. A MC card can be gotten on virtually any street corner in certain neighborhoods.

      Here in the Southeast, we have Regions Bank. They pull the same chicanery, and I closed my accounts because of it. And, I told the branch manager why. Mine was indeed just stuff like a household checking account and a VISA, but even in my small way I will not support such companies.

      JusticeDelivered in reply to walls. | June 28, 2019 at 5:19 pm

      “The manager called me several times to reconsider.”

      Same for me, two corporate accounts, one nonprofit accounts and four personal accounts, and the dollar value was enough to make the manager wince.

      BofA is a shyster.

I dumped all 3 of them years ago.

smalltownoklahoman | June 28, 2019 at 4:55 pm

First it was the gun industry targeted with this kind of manure, now we’re seeing it spread to others. Part of the left’s attempts to utterly ruin anyone who steps out of line with their agenda.

SJW mob rule is creating monopoly markets, where freedom of association may be regulated away for exclusionary and predatory acts.

Same as black civil rights, where violence-backed mob rule prevented competition from serving blacks if they wanted to.

    jhn1 in reply to rhhardin. | June 29, 2019 at 1:29 am

    Second half should win Internet of the day.
    This is exactly what the Democratic Party militant activist group, the KKK, demanded of potential supporters of their chosen victims.

What is going to happen is that lawsuits are going to be filed against these institutions. BoA is a federally chartered and regulated financial institution. They can not simply decide that they do not want to do business with certain people, unless those people are engaged in a criminal activity, possibly engaged in a criminal activity or, in the case of loans, represent a high risk for a loan, if those services are available to the general public.

    BobM in reply to Mac45. | June 29, 2019 at 8:03 am

    Not a lawyer, but don’t expect any lawsuits – based on Real World history. My current bank used to be owned by a (Korean-based) MegaBank but was sold shortly after MegaBank came out with a “no gun business” policy – ie they would in the future do no loans or banking for any business that made or sold guns. Including apparently guns for the US military. Not sure if the sale was related to the new policy but I would have closed my accounts if they had stayed a subsidy. Leaving aside the hypocrisy of a South Korean business not supporting an industry necessary for the military that keeps them able to do business, any bank that bases it’s business decisions on the Lib premise that something I’m guaranteed access to by the Constitution is “icky” and Evilllllll is not a bank I’d trust to make sound moral OR business decisions or want to trust my money with.

This actually makes some personal choices I have coming up a little bit easier. Turns out I don’t do business with ignorant leftist shills. Way to shoot yourselves in the feet, BoA.

    bobtuba in reply to UJ. | June 28, 2019 at 9:14 pm

    Indeed. B of A leadership are progtards through and through. These are the guys that loan bazillions to Dem campaigns which they know will never be paid back. And they aren’t. They just write them off and raise fees for everyone else. I viscerally dislike B of A.

But a Christian baker must cook to anyone.

    n.n in reply to puhiawa. | June 29, 2019 at 1:55 am

    The Christian baker did… does cook for everyone. They didn’t deny anyone service or force them to leave their business, restaurant, etc. However, as a constitutional principle, and freedom of conscience, they have the right to refuse endorsement of transversal sexual orientations and other political congruities (“=”) that are inimical to their religion.

Ann in L.A. | June 28, 2019 at 6:24 pm

Yet, I’m sure they aren’t pulling out of business with the Chinese government, who has sent hundreds of thousands of Muslims to “reeducation” camps.

BoA got a $20 billion bailout by the taxpayer and another $25 billion for TARP. They absolutely have no moral right to deny any law abiding person or company from doing business with them. We might as well go full communist then let them get away with this crap.

And libertarians can go pound sand. They are less two percent of the population. There are more gays than libertarians.

They should take the children and dump them in BoA’s HQ lobby and say – OK, you deal with them, and leave.

Years ago I qualified for a BOA credit reward card for Bass Pro Shops to get a discount on a gun purchase. I cancelled the card a short time later. Now BOA and Bass Pro Shops have gone separate ways, no doubt because of BOA’s politics. I bank with my local credit union and have never been happier with my banking partner. I also ditched TDBank when they went after an Massachusetts gun dealer.

I may have to change banks: Bank of America will no longer do business with companies that run detention centers – CNN https://t.co/8xG7hlvlOG

— Senator John Cornyn
—————————-
No need rino, just enact a law making cfpb become the bank of last resort for companies that get stiffed for political reasons.
obongo used it as a political slush fund, time to turn the tables and use it for something else.
Plus those companies would then donate to the politicians who support them. Imagine the frothing of the left as their eyes pop out of their heads. Time to take off the blinders and fight them with their own cudgels.
So go ahead and steal a page from the party of hates playbook.

“Bank of America has a right to do so.”

No, they don’t. Banks are chartered by state and Federal governments. As creatures of the state, they are bound to offer equal treatment under law.

    Quite obviously, if BoA refuses to do business with certain companies who have government contracts, the government should announce that it will cease to do business with BoA.

    I give BoA about an hour before the board of directors reverses this idiocy and fires anybody involved.

Bank of America et al are pulling an Oberlin?

Years ago a bank got in dispute with our county over something technical, payroll accounting or some such thing. The county said fine. It would close its savings accounts.
Suddenly the problem went away.

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