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Resource ID: #26958
Source:Center for Public Integrity
"Profiting from Prisoners" is a multiplatform investigative project revealing how financial companies have become central players in a multi-billion dollar economy that shifts the costs of incarceration onto the families of prison inmates and helps private companies profit from these captive customers. The stories and documentary put human faces on a growing structural inequity in society: As mass incarceration stretches prison budgets, prisons are cutting back on basic services like providing toilet paper and winter clothes for inmates. Families are forced to close the gap by paying into a hidden, multi-billion dollar pipeline of cash - facilitated by financial companies - that flows directly from relatives' pockets to the coffers of prisons and the vendors they employ. The series' second major story, based on previously undisclosed government documents, detailed multi-year, no-bid contracts granted to Bank of America and JP Morgan to provide financial and other services in federal prisons.