{"id":3700,"date":"2026-07-18T22:41:31","date_gmt":"2026-07-18T22:41:31","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=3700"},"modified":"2026-07-18T22:41:31","modified_gmt":"2026-07-18T22:41:31","slug":"citizens-bank-drops-links-with-private-prison-companies-citing-changed-commercial-circumstances","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=3700","title":{"rendered":"Citizens Bank drops links with private prison companies, citing \u2018changed commercial circumstances\u2019"},"content":{"rendered":"
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Citizens provided banking services to CoreCivic and The GEO Group, both companies that own or run private prisons throughout the country. Under\u00a0President Donald Trump, both companies have been contracted by U.S. Immigration and Customers Enforcement to operate detention or deportation centers as part of the Trump administration crackdown on illegal\u00a0immigration.<\/p>\n

Read more Walmart removes four Taylor Farms salads as recalls spread<\/a><\/p>\n

The bank came under an intense public campaign for its relationship with CoreCivic and GEO who demanded that Citizens cut ties with the two companies. At least two city councils in New Jersey \u2014 Montclair and Jersey City \u2014 have voted to withdraw their money from Citizens if they did not cut ties with the private prison operators.<\/p>\n

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\u201cToday\u2019s announcement that Citizens Bank will exit its current lending relationships with private prison giants CoreCivic and The GEO Group is an important victory for the people who refused to let a major bank finance human suffering brought on by ICE detention activities of the current federal administration,\u201d said the De-ICE Citizens Bank Coalition, in a statement.<\/p>\n

In a statement, Citizens said they were ending their relationship with the two companies purely for business reasons and not because of political pressure. The federal government has said it plans to buy several facilities run by CoreCivic and is in talks to do so with GEO. Because of this, Citizens said the companies\u2019 financial needs have been reduced.<\/p>\n

Read more \u2018My mind was just completely blown\u2019: 2 families sue hospital after DNA proves their kids were switched at birth 38 years ago<\/a><\/p>\n

\u201cThis is a business decision based on changed commercial circumstances and does not reflect any change in our view regarding these companies\u2019 business models or operations,\u201d the bank said in a statement.<\/p>\n

Banks cutting ties with businesses or individuals is known as\u00a0debanking, and it has become a politically charged topic in Trump\u2019s second term. Under the Trump administration, bank regulators have been conducting investigations into bank\u2019s debanking practices, with the potential of these bank regulators issuing fines or penalties to any banks that are found to have committed debanking.<\/p>\n

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\u201cAll banks, including ourselves, must consider these regulatory and contractual frameworks in making decisions on who to bank or not bank,\u201d Citizens said.<\/p>\n

Read more Two U.S. troops are dead and another is missing after Iran attacks a base in Jordan as supreme leader calls Trump\u2019s signature \u2018worthless and invalid\u2019<\/a><\/p>\n

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CoreCivic and The GEO Group have been government contractors under the Trump administration to help run immigration detention centers.<\/p>\n","protected":false},"author":1,"featured_media":3699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[206],"tags":[],"class_list":["post-3700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banks"],"yoast_head":"\nCitizens Bank drops links with private prison companies, citing \u2018changed commercial circumstances\u2019 - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=3700\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citizens Bank drops links with private prison companies, citing \u2018changed commercial circumstances\u2019 - 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