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January 31, 2006
Major Bank Refuses to Finance Eminent Domain
BB&T, one of the nation's largest banks, has announced it "will make no loans to developers who plan to build commercial projects on land taken from private citizens by the government through the power of eminent domain."
"The idea that a citizen's property can be taken by the government solely for private use is extremely misguided; in fact it's just plain wrong," John Allison, chairman and chief executive of the Winston-Salem-based bank, said Wednesday.
BB&T is the first major bank to announce such a policy. Lets hope more follow suit.
Posted by adrianm at January 31, 2006 08:42 AM
