July 20, 2026
Omar Ornelas/USA Today via Reuters Connect
GEO Group runs several ICE detention centers across the country. The facility above is located in Louisiana.
Citizens Bank said it will exit lending agreements with two private prison operators after receiving intense public scrutiny over those relationships.
The financial group announced in a statement Friday that it would stop extending credit to GEO Group and CoreCivic. The companies, which collectively run about 130 facilities in the United States, contract with the Immigration and Customs Enforcement agency to provide detention centers. Numerous progressive groups have protested Citizens Bank's business dealings with GEO Group and CoreCivic in recent months, calling on the company to sever ties through pickets outside bank branches and even a flyover banner across the the company's namesake South Philly stadium.
Citizens Financial Group insisted that its decision was based on the private prison operators' "reduced need for a bank with Citizens' full range of capabilities" rather than public pressure. It did not "reflect any change in our view regarding these companies' business models or operations," the banking group claimed.
The hit to its public image has clearly stung. Citizens Financial Group said activists had "tried to define us through a narrow lens inconsistent with who we are," citing its charitable donations to support immigrants.
"Citizens has been disappointed that the activists have dragged it into what is largely a political matter," the statement read. "Public characterizations of Citizens by activist groups, including as it relates to our commitment to immigrants and to communities, do not reflect who we are or the record we have built."
Several Philadelphia-area chapters of Indivisible, which organized the Citizens Bank Park flyover and other protests, did not immediately respond to request for comment. The De-ICE Citizens Bank Coalition called the decision "an incredible win" on social media, while calling on clearer commitments from Citizens Bank to end any current or future relationships with private prison companies.
"CoreCivic is a lawful business that has served government partners at the federal, state and local levels, under administrations of both parties, for more than 40 years," Ryan Gustin, director of public affair at CoreCivic, said in a statement. "Our financial position is the strongest it has been in the company's history and we value very much our diverse set of financial partners that help support the company's capital needs. We remain focused on delivering safe, high-quality services for our government partners and delivering quality outcomes which is where we believe our emphasis should be."
GEO Group is behind the Moshannon Valley Processing Center, one of the main ICE detention facilities in Pennsylvania. Immigrant advocates have called for the closure of this center for years, citing the deaths of 32-year-old Chinese national Chaofeng Ge and others. GEO Group also operates Delaney Hall, the Newark facility that has generated considerable controversy. New Jersey Attorney General Jennifer Davenport sued last month after the center's operators refused state officials access.
GEO Group did not immediately respond to a request for comment.
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