This category includes the major financial institutions involved in funding CoreCivic and GEO Group, the two main private prison companies. These companies have historically relied on bank loans to expand their operations.
Between 2019 and 2021, several financial institutions pledged to no longer finance the private prison and immigrant detention industries. For more information, see our analysis as of September 2023.
A US-based multinational investment bank and financial services holding company. It has been one of the main financial backers of private prison companies CoreCivic and GEO Group. In 2019, it announced that it would exit its relationships with these companies. As of 2023, CoreCivic's and GEO Group's credit agreements do not publicly disclose the financial institutions involved.
A UK-based multinational bank. It has been one of the main financial backers of private prison companies CoreCivic and GEO Group. In 2019, it announced that it would no longer finance private prison companies. As of 2023, CoreCivic's and GEO Group's credit agreements do not publicly disclose the financial institutions involved.
A French multinational bank and financial services holding company. It has been one of the main financial backers of private prison company GEO Group. In 2019, it announced that it would no longer finance US private prison operators. As of 2023, GEO Group's credit agreements to not publicly disclose the financial institutions involved.
A US-based retail and commercial banking company. Its subsidiary Citizens Bank has been one of the main financial backers of private prison company CoreCivic.
A US-based bank holding and financial services company. It has been one of the main financial backers of private prison companies CoreCivic and GEO Group. In 2019, it announced that it would stop financing companies that manage private prisons and immigrant detention centers. As of 2023, CoreCivic's and GEO Group's credit agreements do not disclose the financial institutions involved.
A US-based bank holding and financial services company. It has been one of the main financial backers of private prison company CoreCivic.
A US-based investment banking and financial services company. It has been one of the main financial backers of private prison companies CoreCivic and GEO Group. In 2019, it announced that it would stop financing these companies. As of 2023, CoreCivic's and GEO Group's credit agreements do not disclose the financial institutions involved.
A Japanese financial services holding company. It has provided financing to private prison and immigrant detention company CoreCivic through two of its subsidiaries, Nomura Corporate Funding Americas and Nomura Securities International.
A US-based bank holding and financial services company. Its subsidiary PNC Bank has been one of the main financial backers of private prison company CoreCivic. In 2019, it announced that it would not extend any additional credit to companies operating private prisons. As of 2023, CoreCivic's credit agreements do not publicly disclose the financial institutions involved.
A US-based bank holding and financial services company. It has been one of the main financial backers of private prison companies CoreCivic and GEO Group. After announcing in 2021 that it would not extend additional credit services to CoreCivic, it became the new trustee of a bond agreement with the company, set to mature in 2026.
A US-based bank holding and financial services company. Its subsidiary Synovus Bank has been one of the main financial backers of private prison company CoreCivic.
A US-based bank holding company. Its subsidiary Truist Bank (formerly SunTrust Bank) has been one of the main financial backers of private prison companies CoreCivic and GEO Group. In 2019, it announced that it would no longer provide financing to companies that manage private prisons and immigrant detention centers. As of 2023, CoreCivic's and GEO Group's credit agreements do not publicly disclose the financial institutions involved.
A US-based bank holding company. It has been one of the main financial backers of private prison company CoreCivic. In 2019, it announced that it would no longer finance the private prison industry. As of 2023, CoreCivic's credit agreements do not disclose the financial institutions involved.
A US-based multinational banking and financial services company. It has been one of the main financial backers of private prison companies CoreCivic and GEO Group. In 2019, it announced that it would exit its relationships with these companies. As of 2023, CoreCivic's and GEO Group's credit agreements do not publicly disclose the financial institutions involved.