Bank of America dropped private-prison clients. Now it’s taking them back.
Six years after Bank of America fired him as a client, and 131 days after President Donald Trump publicly accused the bank’s chief executive of political bias, Damon Hininger got a phone call.
Upon reconsideration, Bank of America would be happy to offer his company, the second-largest operator of US prisons and detention centers, a bank account.
“Times change,” Hininger said in an interview from his office in Nashville, Tenn.
His company, CoreCivic, took Bank of America up on its offer, which had been in the works for months. “A deposit account is nice,” he said, but he’s waiting for the Wall Street services — loans, stock offerings, and takeover advice — typically bestowed on favored clients.
