Private Prison Financing

This category includes the major financial institutions involved in funding CoreCivic and GEO Group, the two main private prison companies in the U.S. 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.

Further Information

Investigate 2023 Report on Private Prison Financing in the U.S.

GEO Group Running Out of Banks as 100% of Known Banking Partners Say ‘No’ to the Private Prison Sector

2019 Impact Brief: "As Wall Street Banks Sever Ties, Private Prison Companies Stand to Lose Over $1.9B in Future Financing"

“An examination of private financing for correctional and immigration detention facilities” by In the Public Interest, June 2018

“Bankrolling Oppression: How Wall Street Companies Finance the Private Prison and Immigrant Detention Industry” by the Center for Popular Democracy, April 2018

“The Banks the Finance Private Prison Companies,” by In The Public Interest, November 2016

The list of companies involved in this sector

Select private companies are listed below publicly-traded companies.

(!) symbol means this company is on our divestment list

Publicly-Traded Companies

Citizens Financial Group Inc Our Divestment List

USA

A US-based retail and commercial banking company. It has been one of the main financial backers of private prison company CoreCivic.

First Horizon Corp Our Divestment List

USA

A US-based banking and financial services company. It has been one of the main financial backers of private prison company CoreCivic.

HSBC Holdings PLC Our Divestment List

A UK-based banking and financial services company. It has been a major financier of private prison companies CoreCivic and GEO Group.

Pinnacle Financial Partners Inc Our Divestment List

USA

A US-based banking company. It has been a major financier of private prison company CoreCivic.

Regions Financial Corp Our Divestment List

USA

A US-based banking and financial services company. It has been a major financier of private prison companies CoreCivic and GEO Group.

Synovus Financial Corp

USA

A US-based banking and financial services company. It has been a major financier of private prison company CoreCivic.

Private Companies

Alter Domus Products Corp

New York

A private US-based investment management company. As of 2022, it serves as the administrative agent of CoreCivic's and GEO Group's loans.

This page was last updated on

6 September 2023