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

https://www.forbes.com/sites/morgansimon/2019/09/30/geo-group-runs-out-of-banks-as-100-of-banking-partners-say-no-to-the-private-prison-sector/

Hmm. This seems big. I guess they’ll need to turn to Chinese, Russian, 2nd-tier US, etc. banks?

«the American private prison industry is a relatively new phenomenon, with the first private prison opening in 1984. Given their business model depends on keeping a consistent and increasing number of people incarcerated, it’s been speculated and critiqued that this is why GEO Group and CoreCivic have spent $25M on lobbying over the past three decades to push for harsher criminal justice and immigration laws.»

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