Citizens Bank says it will wind down its financial relationship with CoreCivic and The GEO Group, two major private prison companies that have worked as government contractors. The move follows a sustained public pressure campaign aimed at banks and other lenders connected to the private detention industry.
The decision puts fresh attention on how financial institutions are responding to criticism over private prison financing. CoreCivic and GEO Group have been involved in operating immigration detention centers, an issue that has drawn heavy scrutiny from activists and advocacy groups in recent years.
By stepping back from those ties, Citizens is joining a broader debate over whether banks should continue doing business with companies linked to detention and incarceration. The announcement reflects the growing impact of public campaigns that target corporate relationships, not just government policy.
The shift could add pressure on other lenders to review their own exposure to private prison operators. It also marks another sign that reputational risk and public activism are increasingly shaping decisions in the banking sector.
