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SunTrust to stop financing companies that manage private prisons

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SunTrust Banks Inc said on Monday it will not provide future financing to companies that manage private prisons and immigration holding ...

NEW YORK: SunTrust Banks Inc said on Monday it will not provide future financing to companies that manage private prisons and immigration holding facilities, becoming the latest lender to distance itself from a sector that has become tied to the Trump administration’s immigration policies.

In 2018, banks, including Bank of America Corp and Wells Fargo & Co , raised roughly US$1.8 billion in debt over three deals for CoreCivic and GEO Group, according to Refinitiv data.

 

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I will start a bank that solely finances private prisons. Anyone want to invest?

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