Citizens Financial exits credit facilities for two prison operators amid activist pressure

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Citizens Financial ( CFG ) is exiting the credit facilities for two private prison operators, CoreCivic ( CXW ) and The GEO Group ( GEO ), amid pressure from activist groups. Recently, the banking group was said to be facing pushback from activist organizations, including De-ICE Citizens

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Citizens Financial has decided to cease providing credit facilities to private prison operators, including CoreCivic and The GEO Group, following pressure from activist groups. This move reflects the broader trend of strengthening ESG management in the financial sector and is expected to increase funding costs for these companies. Investors should closely monitor whether similar exit strategies by other financial institutions could lead to a liquidity crisis across the private prison industry.

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