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Sectors: prison industry
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By: BankTrack
Created on: 2019-07-22 17:48:38
Last update: 2019-10-22 16:43:01

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Why this profile?

CoreCivic profits from the incarceration of migrants and their use as a source of cheap labour. Under the Trump administration the incarceration of migrants has severly increased, leading to family separations and conditions resembling forced labour.

CoreCivic's Eloy Detention Center in Pinal Count, Arizona. Photo: Peg Hunter via Flickr (CC BY NC 2.0)

About CoreCivic

CoreCivic, formerly the Corrections Corporation of America and established in 1983, is an American company that owns and operates private prisons and immigration detention centers. Headquartered in Brentwood, Tennessee, the company is one of the largest private prison companies in the United States: CoreCivic manages more than a hundred state and federal correctional and detention facilities.

Headquarters
5501 Virginia Way, Suite 110
TN 37027 Brentwood
United States
CEO/chair Damon T. Hininger
President and CEO
Website http://www.corecivic.com
Ownership
listed on NYSE Euronext

CoreCivic's largest share holders are The Vanguard Group and BlackRock. A full overview of the company's shareholder structure can be accessed here.

Subsidiaries

Headquarters location

Issues

Human rights

Mistreatment of detained persons CoreCivic, together with the GEO Group, is one of the major managers of Immigration and Customs Enforcement (ICE) detention centers. These companies have been described as relying "on a business model based on forced labour" and are linked to evidence of inhumane conditions, abuse and death at their detention centers.

The Department of Homeland Security Office of Inspector General, an independent watchdog agency that oversees ICE, issued a damning 2017 report documenting widespread abuse at ICE detention centers. It found these violations “undermine the protection of detainees’ rights, their humane treatment, and the provision of a safe and healthy environment.” Nearly one in four people report being victims of some type of abuse or aggression during their apprehension. A 2018 study found that for-profit detention facilities generate 175% more grievances than government-run facilities. Private prison companies have perverse incentives to make business decisions that negatively impact people being detained.

Deaths at detention centers Since 2010 ICE has reported a total of 74 deaths in immigration dentention. A 2018 report found that medical experts have determined that medical care lapses contributed or led to 23 deaths in 19 different detention centers since March 2010. Most of the Detainee Death Reviews that were examined since 2010 include evidence of dangerous and subpar medical care practices. Fifteen of the 179 detainees who died in ICE custody between October 2003 and February 2018 were held at a single private immigration detention center, run by CoreCivic in Arizona, according to the Migration Policy Institute.

Abuses at detention centers CoreCivic’s immigrant detention centers have been reported for numerous human rights abuses, including medical neglect, sexual and physical assault against detainees, understaffing, and overcrowding (Investigate). In February 2017, detainees at an Immigration and Customs Enforcement (ICE) facility managed by CoreCivic went on a hunger strike to protest their detention and CoreCivic retaliated by locking them in solitary confinement. In that same year, a federal audit revealed that a CoreCivic immigrant detention center in Kansas lacked oversight and was severely understaffed. The audit concluded that this was also a problem at other CoreCivic detention facilities.

In March 2019, ICE was granted a court order to physically restrain and force-feed a detainee on hunger strike in the same CoreCivic facility, although forced feeding is considered a form of torture under the UN Convention Against Torture.

Family detention and separation In April 2018, the then Attorney General Sessions announced a zero tolerance policy under which the Department of Homeland Security (DHS) will refer all migrants who enter the U.S. without authorization to the Department of Justice for criminal prosecution. As a result, the government separated more than 2,000 children from their parents at the border during the period of April to June. In June 2018, President Trump signed an Executive Order intended to halt the separation of families. However, the order instructs DHS to detain 'alien families' together throughout the pendency of criminal proceedings and immigration proceedings. The Border Patrol has temporarily halted the referral for criminal prosecution of parents arriving with children, but there is no procedure currently in place to reunite the thousands of families already separated. Detained families including their children are still held at detention centers run by Corecivic and the GEO Group, despite for example the American Academy of Pediatrics recommending that no child should be placed in detention due to the risk of psychological trauma and long-term mental health impacts.

Other issues

Other private companies Private prison companies like CoreCivic and the GEO Group are responsible for both construction and management of facilities, but many services within a detention center are also handled by private contractors. Detainees are charged for all kinds of services and have to use for-profit money transfers, like Western Union or Global Tel Link, to pay for them. Phone companies can charge prisoners as much as USD 25 for a 15-minute phone call. Health care, ankle monitoring, drug testing and food services are outsourced to companies through lucrative contracts.

Lobbying CoreCivic spent nearly USD 10 million between 2008 and 2014 to lobby the House appropriations subcommittee that controls immigration-detention funding. Together with the GEO Group, according to the Migration Policy Institute, the two corporations dished out a combined half-million dollars to Trump’s inauguration committee. A report in The Daily Beast stated, "In essence, immigration advocates say, the detention corporations pay Trump and his congressional allies, whose enthusiasm for treating immigration as a crime ensures delivery of a growing population of captives to companies that pay them far below a minimum wage."

Governance

Applicable norms and standards

UN Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment
UN Guiding Principles on Business and Human Rights

Bank policies

The following bank investment policies apply to this project:
Bank of America
csr policies
2019-07-01 00:00:00

Human Rights Statement

date listed represents date as accessed on website
2019-07-01 00:00:00 | Bank of America
JPMorgan Chase
csr policies
2011-05-03 00:00:00

Human rights

2011-05-03 00:00:00 | JPMorgan Chase
Wells Fargo
csr policies
2014-09-08 00:00:00

Human Rights Statement

2014-09-08 00:00:00 | Wells Fargo
HSBC
csr policies
2015-09-30 00:00:00

Statement on Human Rights

2015-09-30 00:00:00 | HSBC
Royal Bank of Scotland Group (RBS)
csr policies
2019-03-28 00:00:00

Position on human rights

Date listed represents date as accessed on website
2019-03-28 00:00:00 | RBS
Barclays
csr policies
2016-11-30 00:00:00

Statement on human rights

2016-11-30 00:00:00 | Barclays

Financiers

Ten banks, including Bank of America, Fifth Third Bank, HSBC, JPMorgan Chase, Macquarie, PNC Bank, Regions Bank, SunTrust Bank, have financed CoreCivic with a USD 800 million credit facility in April 2018, maturing in April 2023, and USD 200 million (April 2018 - April 2023) in corporate loans (Sec.gov). See below for more details.

From 2016 to 2018, CoreCivic has issued seven bonds totalling USD 1.51 billion. These were underwritten by Bank of America, Barclays, Fifth Third Bank, HSBC, JPMorgan Chase, Macquarie, Regions Bank, RBS, SunTrust Bank, US Bank and Wells Fargo. See below for more details.

Six banks, Fifth Third Bank, BNP Paribas, SunTrust Bank, JPMorgan Chase, Wells Fargo and Bank of America, have announced that they will no longer finance companies that operate private prison and detention centers, including CoreCivic. Two other banks, U.S. Bank and Barclays, have told CBS Moneywatch in July 2019 that they have no plans to lend to the private prison industry in the future.

banks

Bank of America United States profile
banks
Debt – corporate loan
USD 28 million
17 April 2018 - 17 April 2023
source: Sec.gov
link
Debt – corporate loan
USD 112 million
17 April 2018 - 17 April 2023
Revolving credit facility
source: Sec.gov
link
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.516 billion. Bank of America underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
Barclays United Kingdom profile
banks
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds, totalling USD 1.516 billion. Barclays underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
Fifth Third Bank
banks
Debt – corporate loan
USD 80 million
17 April 2018 - 17 April 2023
Revolving credit facility
source: Sec.gov
link
Debt – corporate loan
USD 20 million
17 April 2018 - 17 April 2023
source: Sec.gov
link
Share issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.516 billion. Fifth Third Bank underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
HSBC United Kingdom profile
banks
Bond issue – underwriter
USD 1.516 billion
31 December 2018 -
CoreCivic has issued bonds totalling USD 1.1516 billion. HSBC underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
JPMorgan Chase United States profile
banks
Debt – corporate loan
USD 112 million
17 April 2018 - 17 April 2023
Revolving credit facility
source: Sec.gov
link
Debt – corporate loan
USD 28 million
17 April 2018 - 17 April 2023
source: Sec.gov
link
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.516 billion. JPMorgan Chase underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
Macquarie bank Australia profile
banks
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds, totalling USD 1.516 billion. Macquarie underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
PNC Bank United States profile
banks
Debt – corporate loan
USD 112 million
17 April 2018 - 17 April 2023
Revolving credit facility
source: Sec.gov
link
Debt – corporate loan
USD 28 million
17 April 2018 - 17 April 2023
source: Sec.gov
link
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.1516 billion. PNC Bank underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
Regions Bank
banks
Debt – corporate loan
USD 24 million
17 April 2018 - 17 April 2023
source: Sec.gov
link
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds, totalling USD 1.516 billion. Regions Bank underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
Debt – corporate loan
USD 96 million
17 April 2018 - 17 April 2018
Revolving credit facility
source: Sec.gov
link
Royal Bank of Scotland Group (RBS) United Kingdom profile
banks
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.516 billion. RBS underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
SunTrust Bank United States profile
banks
Debt – corporate loan
USD 112 million
17 April 2018 - 17 April 2023
Revolving credit facility
source: Sec.gov
link
Debt – corporate loan
USD 28 million
17 April 2018 - 17 April 2023
source: Sec.gov
link
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.516 billion. SunTrust Bank underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
US Bank
banks
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.516 billion. US Bank underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link
Wells Fargo United States profile
banks
Bond issue – underwriter
USD 1.516 billion
31 December 2018
CoreCivic has issued bonds totalling USD 1.516 billion. Wells Fargo underwrote one or more.
source: CoreCivic 10-K filings at sec.gov
link

News

| |
Type:
Year:
blog
external news
our news

Facing widespread divestment and public outcry, GEO Group tries to soothe shareholders

2019-11-06 | The Miami New Times
blog
external news
our news

Private prisons were supposed to thrive under Trump — then came a backlash

2019-07-29 | CBS News
blog
external news
our news

Another Needless Death in US Immigration Detention

2019-07-26 | Human Rights Watch
blog
external news
our news

American Gulags - Communities across the country push back on immigration prisons

2019-07-25 | Common Dreams
blog
external news
our news

Fifth Third to Halt Future Financing to Private-Prison Firms

2019-07-15 | Bloomberg
blog
external news
our news

BNP Paribas backs away from U.S. private prison industry

2019-07-13 | Reuters
blog
external news
our news

UN rights chief ‘appalled’ by US border detention conditions, says holding migrant children may violate international law

2019-07-08 | UN News
blog
external news
our news

SunTrust is the latest bank to stop lending to detention centers

2019-07-08 | CNN Business
blog
external news
our news

Bank of America Will Stop Lending to Private-Prison Firms

2019-06-27 | Bloomberg
blog
external news
our news

GEO Group, CoreCivic Face Class Actions Alleging Prisoner ‘Slave Labor’

2019-04-15 | Prison Legal News
blog
external news
our news

Court Order Allows ICE to Force-Feed Arizona Detainee on Hunger Strike

2019-03-27 | Phoenix New Times
blog
external news
our news

JPMorgan Backs Away From Private Prison Finance

2019-03-05 | U.S. News
blog
external news
our news

UN: US force-feeding immigrants may breach torture agreement

2019-02-08 | AP News
blog
external news
our news

$800 Million in Taxpayer Money Went to Private Prisons Where Migrants Work for Pennies

2019-02-01 | The Daily Beast
blog
external news
our news

US Immigrant Detentions, Accusations of Rights Violations Rise

2018-12-15 | VOA news
blog
external news
our news

Today It Locks Up Immigrants. But CoreCivic’s Roots Lie in the Brutal Past of America’s Prisons

2018-10-31 | Motherjones.com
blog
external news
our news

Immigrant Rights Organization Puente Says Migrants On Hunger Strike At Correctional Facility; ICE Denies Allegations

2018-09-18 | Kjzz.com
blog
external news
our news

Family Separation & Detention

2018-07-31 | American Academy of Pediatrics
blog
external news
our news

Ailing Justice—New Jersey: Inadequate Healthcare, Indifference, and Indefinite Confinement in Immigration Detention

2018-02-27 | Human Rights First
blog
external news
our news

The Feds Just Slammed One of the Country’s Biggest Private Prison Companies—Once Again

2017-04-26 | Motherjones.com
blog
external news
our news

Exclusive: ICE put detained immigrants in solitary confinement for hunger striking

2017-02-27 | Theverge.com
blog
external news
our news

Report: The Banks That Finance Private Prison Companies

2016-11-23 | In the Public Interest

Documents

| | | | | | | | | | | |
Type:
Year:
other documents
2018-01-31 00:00:00

ICE lies: public deception, private profit

2018-01-31 00:00:00 | Detention Watch Network, National Immigrant Justice Center
other documents
2016-09-30 00:00:00

Shutting down the profiteers

Why and how the Department of Homeland Security should stop using private prisons
2016-09-30 00:00:00 | American Civil Liberties Union
other documents
2017-12-11 00:00:00

Concerns about ICE Detainee Treatment and Care at Detention Facilities

2017-12-11 00:00:00 | U.S. Department of Homeland Security
ngo documents
2017-05-31 00:00:00

Systemic Indifference

Dangerous & Substandard Medical Care in US Immigration Detention
2017-05-31 00:00:00 | Human Rights Watch, Freedom for Immigrants (formerly Civic End Isolation)
bank documents
2018-12-31 00:00:00

Business Standards Report

(page 42, note on private prisons)
2018-12-31 00:00:00 | Wells Fargo
other documents
2018-12-31 00:00:00

The Landscape of immigration detention in the United States

2018-12-31 00:00:00 | American Immigration Council
ngo documents
2018-06-30 00:00:00

Code Red - The Fatal Consequences of Dangerously Substandard Medical Care in Immigration Detention

2018-06-30 00:00:00 | Human Rights Watch, ACLU, National Immigrant Justice Center, Detention Watch Network
ngo documents
2019-07-26 00:00:00

As Wall Street Banks Sever Ties, Private Prison Companies Stand to Lose Over $1.9B in Future Financing

2019-07-26 00:00:00 | ITPI, Public Accountability Initiative, The Center for Popular Democracy
csr policies
2016-12-31 00:00:00

Human Rights Policy Statement

2016-12-31 00:00:00 | CoreCivic
csr policies
2019-07-25 00:00:00

Code of Ethics

Date listed represents date as accessed on website
2019-07-25 00:00:00 | CoreCivic
ngo documents
2019-01-31 00:00:00

Prisons and Punishment: Immigration Detention in California

2019-01-31 00:00:00 | Human Rights First
annual reports
2019-03-31 00:00:00

CSR report 2018

2019-03-31 00:00:00 | CoreCivic
annual reports
2019-03-31 00:00:00

Annual report 2018

2019-03-31 00:00:00 | CoreCivic
ngo documents
2016-11-30 00:00:00

The Banks That Finance Private Prison Companies

2016-11-30 00:00:00 | In the Public Interest
ngo documents
2019-04-30 00:00:00

The Wall Street Banks Still Financing Private Prisons

2019-04-30 00:00:00 | ITPI, Public Accountability Initiative, The Center for Popular Democracy

Media






Links

Investigate - profile of CoreCivic

http://investigate.afsc.org/company/corecivic

CoreCivic's corporate social responsibility web page

http://www.corecivic.com/social-responsibility

Immigration Detention: An American Business

Campaign website of Worth Rises.

https://worthrises.org/immigration

United Nations - Migration and Human Rights

https://www.ohchr.org/en/issues/migration/pages/migrationandhumanrightsindex.aspx

Freedom for Immigrants

Campaign website

https://www.freedomforimmigrants.org/

Detention Watch Network

https://www.detentionwatchnetwork.org/

National Immigrant Justice Center

https://immigrantjustice.org/

Families Belong Together campaign website

https://www.familiesbelongtogether.org/break-up-with-private-prisons/
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