The bail-bond industry is under intense pressure as more states virtually wipe out cash bail and financial firms look for an exit from an increasingly controversial profit center in the criminal-justice system.

Most recently, private-equity firm Endeavour Capital says it has sold its stake in California-based Aladdin Bail Bonds, one of the country’s largest bail bond providers. The move came after Endeavour and its investors faced pressure from the American Civil Liberties Union and others who say bail is part of a justice…

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