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Citizens Bank to cut ties with CoreCivic and GEO

newsJul 17, 2026211,747

Citizens Bank said it will wind down its lending and other financial relationships with private prison operators CoreCivic and The GEO Group, companies that have been contracted by U.S. Immigration and Customs Enforcement to operate detention facilities under the Trump administration. The bank announced the move after an intense public campaign by advocates and left-leaning city governments, with Montclair and Jersey City city councils voting to withdraw municipal deposits if Citizens did not sever ties. The De-ICE Citizens Bank Coalition called the announcement an "important victory for the people" who protested the bank's financing of ICE detention activities. Citizens framed the decision as a commercial one, saying federal plans to buy several CoreCivic facilities and talks to do the same with GEO have reduced those companies' financing needs. Citizens also warned that banks must consider regulatory and contractual frameworks when deciding whom to bank, a reference to ongoing scrutiny by bank regulators of so-called debanking practices. Activists and coalition leaders said they will press Citizens to follow through and to expand any exit into ending future relationships with private prison firms.

De-ICE Citizens Bank
@de-icecitizensbank.org

Citizens Bank has announced it will exit its lending agreements with CoreCivic and GEO Group. This is an incredible win for everyone who refused to let a major bank finance the human suffering caused by ICE detention! Community resistance matters ✊

Graphic titled 'BREAKING' announcing that Citizens Bank is exiting its lending relationships with for-profit ICE prison companies CoreCivic and GEO Group. The background photo shows protesters outside a Citizens Bank branch holding signs reading 'Citizens: Get Out of ICE OR We Get Out of Citizens,' 'Citizens Bank No ICE Prisons,' and 'Citizens Bank Has Blood On Its Hands.' The 'De-ICE Citizens Bank' campaign logo appears in the bottom left, with the URL www.de-icecitizensbank.org in the bottom right.
26045d ago
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