Brown University Union Takes Action Against Citizens Bank
The union representing both graduate and undergraduate students at Brown University has withdrawn nearly $500,000 from Rhode Island’s largest bank to pressure it into severing ties with a private prison company that detains immigrants for the Trump administration.
Church Coalition Demands Meeting with Citizens Bank
A coalition of Boston-area churches aims to raise approximately $1 million if Citizens Bank executives fail to engage with them within a week regarding a similar request to stop financially supporting U.S. Immigration and Customs Enforcement (ICE) activities.
Call for Alternative Banking Options
Michael Ziegler, president of AFT-RIFT Local 6516, urged the 300 demonstrators gathered outside Citizens Bank’s Providence headquarters for recommendations for banks that do not engage in what he termed “shady business practices.”
Protests Mark Annual Shareholder Meeting
The protest unfolded just before and after the bank’s annual general meeting, where demonstrators pressured Citizens Bank to cut its financial connections with CoreCivic and GEO Group, the primary contractors for ICE.
Criticism of Citizens Bank’s Role
“We are here today to protest the terror and abuse inflicted by ICE across the nation,” said Julie Craven, an organizer with the Citizens Banking Coalition to End ICE. She emphasized that Citizens Bank is the “financial engine” behind these activities.
Bank’s Response to Protests
Peter Lucht, a spokesman for Citizens Bank, declined to comment on the protests or the demands of account holders. He reiterated that the bank refrains from discussing specific customers and manages business relationships through due diligence and regulatory compliance.
Concerns Over Citizens Bank’s Ties with Private Prison Contractors
Protesters argue that this ongoing relationship between Citizens Bank and ICE contractors contradicts the bank’s stated commitments to social responsibility. GEO Group operates approximately 50 prisons nationwide, where detainees are reportedly compelled to work without pay or face solitary confinement. Citizens Bank has a credit facility agreement worth $550 million with the company, as disclosed in filings with the U.S. Securities and Exchange Commission (SEC).
Political Figures Join Calls for Action
State Representative David Morales, a Democrat from Providence, criticized Citizens Bank for potentially enabling human rights abuses via financial support to private prison contractors. “It is shameful that Citizens Bank’s customers are unknowingly funding these violations,” he stated during the protest.
Mobilization Against Financial Institutions
The De-ICE Citizens Bank Coalition, which launched its campaign against the bank earlier this year, continues to push for accountability. In March, the coalition sent a formal demand to the bank’s CEO to end its financial relationships with CoreCivic and GEO Group, but claims to have yet to receive a response.
Religious Organizations Gear Up for Further Action
Members of the Interfaith Organization of Greater Boston, representing 60 religious groups and unions, reported their attempts to meet with bank officials had gone unacknowledged until recently. Discussions on the future of these financial ties are now on the table, with faith leaders urging a meeting by April 30. They have expressed their intention to withdraw $1 million if their requests are not met.
Ongoing Pressure from Cyber Crime Group
In addition to protests from labor and religious factions, Citizens Bank is reportedly facing demands from the cybercrime group Everest. A ransom note promising to leak stolen information was posted on a dark web site, creating further complications for the bank’s ongoing issues.
Citizen’s Bank Outlines Its Position
Citizens Bank has been cautious in addressing public concerns about its operations. In a recent statement, the bank acknowledged addressing incidents related to data from third-party vendors but maintained there was no indication of unauthorized access to its network.
Reporter Alexander Castro contributed to this article.
