Bank of America — Homestead Shelter’s Main Bank— Is Exiting The Detention Industry
A day after company officials toured the Homestead detention center for unaccompanied immigrant teenagers, Bank of America decided it will pull out of the private prison and detention industry.
The banking giant’s decision to withhold credit from facilities like the one in Homestead — which houses roughly 3,000 migrant teens — comes after company officials visited the property on Tuesday, sources told the Miami Herald. The bank would not confirm a visit to the facility.
In late May, the Miami Herald revealed that Bank of America is the chief financier of Caliburn, the Homestead center’s operator.
Read more at our news partner the Miami Herald.