Citizens Financial to Exit Credit Facilities for Two Detention Center Operators

Citizens Financial announced it will exit its credit facilities to Geo and CoreCivic, two companies that operate detention centers for U.S. Immigration and Customs Enforcement. The bank did not provide a timeline for the exit or detail the size of the facilities involved.

CoreCivic provide services to federal immigration authorities under contracts with U.S. Immigration and Customs Enforcement. The firms operate facilities that house individuals detained under immigration enforcement actions.

Financial said the decision followed an internal review of its lending relationships. The bank did not comment on the reasons for the review or on any future lending policy changes.