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Prison bankers profit from chanrging inmates' families high fees for sending money orders to prisoners.
(Copyright: Dave Weaver/Shutterstock)
In recent years the cost of incarceration has increasingly
been shifted to inmates and their families. But if you have a family
member in prison, sending them money to pay for basic necessities like
toilet paper and warm clothing often comes with high fees. Daniel Wagner,
investigative financial reporter at the Center for Public Integrity,
examined the ways in which financial companies like JPay and Bank of
America profit from money transfers to prisoners. Wagner has
investigated how financial companies impose high costs on the families
of prison inmates in his articles "Prison Bankers Cash in on Captive Customers" and "Megabanks Have Prison Financial Services Market Locked Up."
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