Geo Group

BNP Paribas — the parent company of UC Berkeley’s official bank, Bank of the West — owns more than $1 million in shares from two private prison companies that are contracted by Immigration and Customs Enforcement, or ICE, to operate immigration detention facilities.

The University of California will terminate $475 million worth of contracts with Wells Fargo after repeated criticism from the Afrikan Black Coalition, or ABC, over its ties to private correctional facilities.

On Monday, a universitywide group of black student organizations denounced the University of California’s investment in private corrections companies, calling for divestment and investment strategy reforms.