JPMorgan Chase is positioning itself to cash in on the Trump agenda in a big way.
The Trump administration has ushered in an era of privatized mass incarceration and Chase, as one the most consistent financiers of the for-profit detention industry, is poised to directly profit from Trump’s policies.
Tell Chase to stop pushing Trump's agenda
Chase is a financier, underwriter, and bond-holder of GEO Group and Core Civic (formerly Corrections Corporation of America), two of the biggest for-profit prison and detention center corporations in the country.
Private prisons are a $70 billion dollar industry that has been greatly rewarded by the Trump Agenda. The day after Donald Trump won the election on his anti-immigrant platform, the stock price of the country’s largest private detention center jumped 43 percent and almost immediately after Trump’s inauguration his DOJ rescinded the Obama administration’s order to phase out federal private prison.
While Chase CEO Jamie Dimon is publicly pro-immigrant, Chase’s investments and affiliations say otherwise. Chase is not only poised to benefiting from Trump’s policies -- it’s aiding and legitimizing Trump’s agenda through its participation in Trump’s Business Advisory Council where Jamie Dimon sits as an advisor.
Tell JPMorgan Chase to stop furthering Trump's agenda.
Private prisons spend millions of dollars lobbying Congress for higher bail amounts, are rampant with violence and sexual harassment, and disproportionately lock up vulnerable communities of color. The majority of private prison contracts include a lockup quota, because private companies can’t make money from a vacant cell. It’s no surprise that, despite the fact that US contains less than 5% of the world’s overall population, it possesses a quarter of the world’s prison population.
But we can push Chase.
We’ve gotten other CEOs to dump Trump in the past, and Chase is no different. Corporations are extremely susceptible to public pressure. Just earlier this year, former CEO of Uber and CEOs of Tesla and Disney were all forced to step down from Trump’s Business Advisory Council after almost 100,000 of you made your voices heard. Chase is the largest consumer bank in the United States which means they are particularly susceptible to consumer pressure. So if you act now, we can do the same with Dimon and JPMorgan Chase.
Demand that JPMorgan Chase divest from private prisons and cut ties with Trump.
More information
Newsweek. 17 May 2017.