The most disappointing aspect of these politicized banking decisions, disingenuous activist efforts and no-solution proposals from politicians is the people who they ultimately hurt. It hurts the American people because important policies are being discussed, made or avoided based on misinformation rather than an open and honest dialogue on the challenges at hand. It hurts migrants because it limits the ability of our government to partner with the private sector to provide safe, humane housing and critical services while they receive the legal due process they’re entitled to. It hurts the incarcerated who should never be in the overcrowded, dangerous conditions we help alleviate and who will be better equipped for success with the wide variety of reentry programming we provide.
And it sends a terrible message to others in the private sector who are working to help our government solve serious problems in ways it could not do alone.
SunTrust has a contractual obligation to continue working with our company through the expiration of our mutual agreement in 2023. We fully expect SunTrust and others to honor their commitments.
Like others before it, this decision is about caving to political pressure based on false and misleading statements about our company. Despite claims of a thorough review process, these banks have kowtowed to a small group of activists rather than engaging in a constructive dialogue about the facts. In reality, no other company has led as we have with public commitments to strengthen evidence-based programs that help inmates stay out of prison. No other company has so vocally declared public support for specific policies at all levels of government to tackle America’s recidivism crisis. No other company in our industry has both adopted a human rights policy and undertaken an independent, third-party audit to rigorously review those efforts. Even more, we recently released a first-of-its kind ESG report to benchmark our progress, hold ourselves publicly accountable, and map out more ways to make a difference.
For CoreCivic, just as important as what we do is what we have deliberately decided not to do:
CoreCivic has a 35-year track record of working with both Democrat and Republican administrations to help solve the very types of crises we are now seeing on our southern border. Our more than 13,500 employees are proud of the role they play, which they rightfully view as public service. We will vigorously defend against false and misleading statements about our company and our valued, but limited role in America’s corrections and detention systems. Making false and misleading statements about our company, whether in the media or to our banking partners, is a direct interference in our business and our ability to help solve the serious corrections and detention challenges facing our government partners.