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Article

10 Jan 2019

Author:
Wells Fargo shareholders

Shareholder resolution filed at Wells Fargo

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[S]hareholders of Wells Fargo & Company... urge the Board of Directors (the “Board”) to report to shareholders by December 31, 2019 on how WFC is identifying and addressing human rights risks to WFC related to the Trump Administration’s aggressive immigration enforcement policy, which aims to prosecute all persons who enter or attempt to enter the United States (U.S.), including the detention without parole of asylum-seekers and the separation of minor children from parents accused of entering the U.S. illegally... WFC has come under fire for its relationships with GEO Group and CoreCivic, private prison companies that contract with ICE and benefit from more aggressive immigration enforcement... WFC has played an important role in financing GEO and CoreCivic’s businesses: WFC is co-syndication agent for the bank group providing revolving credit and term loans to GEO; has issued letters of credit on CoreCivic’s behalf; and has underwritten bonds for both GEO and CoreCivic.

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