Photo: Robert Alexander/Getty Images

Bank of America told Bloomberg in an interview Wednesday that it will stop lending to companies that run private prisons and immigrant detention centers.

What we know: The move followed a review by the company's environmental, social and governance (ESG) committee, which visited sites and consulted with civil rights activists and experts Vice Chairman Anne Finucane told Bloomberg: "We’ve done our due diligence that we said we would do at the annual meeting, and this is the decision we’ve made.’"

The big picture: Bank of America is at least the third major bank to cut off its business relationship with the industry this year, following JPMorgan Chase and Wells Fargo. For-profit prisons have come under heightened scrutiny recently due in part to reports of migrant children being detained in squalid conditions at border facilities.

  • Wayfair's employees announced a walkout in Boston on Wednesday in response to executives refusing to stop selling beds to a Texas immigration facility.
  • Several Democratic presidential candidates, including Elizabeth Warren and Bernie Sanders, have proposed banning private prisons entirely.

Go deeper: Axios' special report on how companies profit from prisons

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Updated 50 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1:30 a.m. ET: 32,995,554 — Total deaths: 996,695 — Total recoveries: 22,850,774Map.
  2. U.S.: Total confirmed cases as of 1:30 a.m. ET: 7,115,008 — Total deaths: 204,756 — Total recoveries: 2,766,280 — Total tests: 101,298,794Map.
  3. States: 3 states set single-day coronavirus case records last week
  4. Health: The long-term pain of the mental health pandemic
  5. World: India second country after U.S. to surpass 6 million cases

Democrats demand Trump release his tax returns after NYT report

Compilation images of House Nancy Pelosi and President Trump. Photo: Joshua Roberts/Getty Images/Chip Somodevilla/Getty Images

Democrats called on President Trump to disclose his tax returns following a New York Times report alleging he paid $750 in federal income taxes in 2016 and 2017 and nothing in 10 of the past 15 years.

Details: Trump said the report was "total fake news," that he's unable to release the returns as they're "under audit" by the IRS, "which does not treat me well." House Speaker Nancy Pelosi (D-Calif.) said in a statement the report "provides further evidence of the clear need" for a House lawsuit to access the tax returns and "ensure the presidential audit program is functioning effectively, without improper influence."

Updated 4 hours ago - Politics & Policy

Former Trump campaign manager Brad Parscale hospitalized

Brad Parscale, the former campaign manager for President Trump's re-election campaign, at Drake University in January in Des Moines, Iowa. Photo: Tom Brenner/Getty Images

Fort Lauderdale police arrived at former Trump campaign manager Brad Parscale's home on Sunday after his wife called and said he was threatening to harm himself, Florida officials confirmed to Axios.

Details: Fort Lauderdale Police Sgt. DeAnna Greenlaw told Axios officers responded to a report of "an armed male attempting suicide" just before 4 p.m. local time.