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December 8, 2017

JPMorgan Chase Is Funding and Profiting From Private Immigration Prisons
By Ilana Novick

Despite the massive financial investment from the likes of Chase, both CoreCivic and Geo Group continue to "charge the federal government a per diem rate anywhere between $30 per bed to detain immigrants for a short-stay facility to $168.64 per day, according to Transactional Records Access Clearinghouse data from 2016," as ThinkProgress reported in November. For CoreCivic, Geo Group, and Chase, there's profit in the pain of detention. While the report doesn't detail exactly how much money Chase gets from its massive investments, they wouldn't be consistently pouring in money if it wasn't good for their bottom lines.

Transactional Records Access Clearinghouse, Syracuse University
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