Bank of America’s decision is about politics, not about the company we are. No other company has led as we have with public commitments to strengthen the reentry programs in our facilities. No other company has so vocally declared public support for policies at all levels of government to tackle America’s recidivism crisis. And no other company in our industry has backed it all up as rigorously as we have in our recently released, first-of-its kind ESG report.

With the bank’s comments, both public and private, it has misrepresented who we are and misrepresented the conclusions of a process in which we voluntarily engaged. Having a banking relationship with us for over 20 years, Bank of America knows we care deeply about doing business in an ethical, responsible way, and that we have stepped up as a leader in helping address some of the most serious challenges facing our country. This was clearly not a fair, transparent and genuine dialogue about corrections and detention and our valued role that dates back more than 35 years.

We look forward to discussing with Bank of America the entirety of the process it undertook, the facts upon which its decision was made and the considerations around the timing of its announcement.