"Stop the Stagecoach" - Call on Wells Fargo to Divest from Private Prison Industry

 

Texans United For Families (TUFF), a local human rights group working to end immigrant detention and deportation, protested at the Austin Wells Fargo headquarters on Friday, July 1st as part of the National Private Prison Divestment Day. TUFF held the protest to call on Wells Fargo to cease all investments into the private prison industry.

Audio of Texans United For Families' statement

on Wells Fargo Divestment

"Stop The Stagecoach" Call on Wells Fargo to Divest from Private Prison Industry from Texans United For Families on Vimeo.

July 1st was a national day of action targeting the companies and investment firms which make the private prison industry possible. The Austin protest was one of over a dozen actions held across the United States calling for an end to an unjust system of profit over people.

 

Members of TUFF were at the corner of Congress Avenue and Cesar Chavez Street at lunchtime chanting, handing out flyers and engaging the public on Wells Fargo's role in the anti-immigrant movement and industry. The protest ended with three members of TUFF delivering a letter to a Wells Fargo representative asking the bank to act according to its own stated commitment to community values.

Texans United For Families stated "Wells Fargo is a major investor in the private prison corporation the GEO Group, holding over 3.5 million shares in GEO valued at $92 million. GEO has a history of human rights violations, especially in their Texas facilities, leading to deaths, riots, and hunger strikes. Even so, GEO continues profiting from billions in taxpayer dollars. Wells Fargo’s investment in GEO is supporting the construction of a new detention center in Karnes County, TX. GEO’s history points to future human rights violations at this facility. Wells Fargo claims to value community-building and ethics, yet they are investing in and profiting from an industry with unethical practices that harm our communities and prevent our feeling of belonging to a community."

 

Comments

Re: "Stop the Stagecoach" - Call on Wells Fargo to Divest from Private Prison Industry

In Seattle, Occupy Seattle is working with Working Washington and other groups to begin an ongoing boycott of Wells Fargo and the other big banks. We are focussing on Wells Fargo because of its investments/profiteering in the private for-profit prison industry and detention centers (investments that Bank of America also has). And we will be urging individuals, churches, businesses, and entities of all kinds to "Move their Money" out of the big banks and into credit unions. We will urge our state government to pass a law establishing a bank for government entities to invest our funds in. And we will plead with all people everywhere: stop the madness of mass incarceration in the United States!

 

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