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Citizens Bank Ends Private-Prison Loans; Jersey City Dumps $265M

7/18/2026

Summary

Story summary

Citizens Bank announced it will wind down lending to CoreCivic and The GEO Group.
The bank said the move reflects changed commercial circumstances after the federal government began buying the companies' facilities.
Jersey City Council voted unanimously to divest $265 million from Citizens Bank after activists flew a banner over Citizens Bank Park during the All-Star Game demanding the Phillies cut ties with the bank over its private-prison financing.

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Story summary

Citizens Bank announced it will wind down lending to CoreCivic and The GEO Group.
The bank said the move reflects changed commercial circumstances after the federal government began buying the companies' facilities.
Jersey City Council voted unanimously to divest $265 million from Citizens Bank after activists flew a banner over Citizens Bank Park during the All-Star Game demanding the Phillies cut ties with the bank over its private-prison financing.