FOX 35 ORLANDO, Fla. (FOX 35 ORLANDO) - Bank of America will no longer do business with the operators of private prisons and detention centers, according to Fox Business.
"We have decided to exit the relationships we have with companies providing prisoner and immigrant detention services for federal and state governments, as expeditiously as possible," a Bank of America spokesperson told FOX Business in a statement.
Bloomberg reported that the bank had been discussing this issue for some time. The decision was made after the bank reviewed its policy through its environmental, social and governance committee. The company also met with its internal Hispanic and black leaders.
A Bank of America spokesperson told FOX Business in a statement said "the private sector is attempting to respond to public policy and government needs and demands in the absence of long standing and widely recognized reforms needed in criminal justice and immigration policies."
"Lacking further legal and policy clarity, and in recognition of the concerns of our employees and stakeholders in the communities we serve, it is our intention to exit these relationships," the statement concluded.
This story was written in Orlando, Florida.