Wednesday, January 25, 2006

BB&T Won't Loan On Eminent Domain Land


N.C. Bank To Refuse Development Loans Involving Eminent Domain

POSTED: 5:06 pm EST January 25, 2006

WINSTON-SALEM, N.C. -- One of the nation's top banks plans to reject loans to developers who are involved in deals where land is seized through eminent domain.

Officials from Winston-Salem-based BB&T made the announcement on Wednesday. The chief credit officer said the bank was obligated to take a stance on the issue.

Eminent domain allows governments to take citizen's property for private use. The bank said it only expects to lose a fraction of a percent of business with the new policy.

Way to go BB&T. I support you completly in this and I'm glad that you support the people of NC.

posted by David at 5:19 PM :: Permalink ::

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