Citizens Bank

Citizens Financial Group is a major lender to private prison operators CoreCivic and GEO Group, financing ICE detention facilities. When nine major banks cut ties with private prisons in 2019, Citizens strengthened its relationship instead. Citizens acts as administrative agent for GEO Group credit agreements, providing hundreds of millions in financing for ICE detention expansion.

GEO Group profits soar 700% on ICE contracts

GEO Group reported a record $254 million profit in 2025, a roughly 700% increase from 2024, driven by new ICE contracts including approximately $520 million in new or expanded ICE contracts.

Source: Common Dreams