Jersey City is divesting from Citizens Bank because of its reported financial ties to the private prison companies running Immigrant Customs and Enforcement (ICE) detention.
At its Wednesday night meeting, the City Council voted unanimously in favor of a resolution urging the city not to place taxpayers’ money with a bank that is “continuing to finance and profit from the detention of immigrants.”
According to Communications Director Nathaniel Styer, approximately $265 million was being held at Citizens and is now in the process of being moved. Of the $265 million, about $150 million was moved Tuesday…