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Bank to land grabbers: "Get your money elsewhere"
Posted by: McQ on Friday, January 27, 2006

Interesting. From North Carolina:
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.
To bad I don't live there ... I'd open an account. Yeah, I know it won't cost them much, but still ... a business which takes an ethical stand on the right of ownership.

Excellent.
 
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Comments
Most of my family has banked with them for years, although I closed my own account with them when I moved to NYC (no branches there, unfortunately). Good for them anyway; they’re fine folks, and in all the years I used them I was always treated very well and was completely satisfied with them. In fact, now that I think about it, they wrote the loan for my first Harley way back when...
 
Written By: Mike
URL: http://coldfury.com
It’s very good to hear of a business with scruples. If all business would take a similar stance maybe we could put an end to this blatant abuse of eminent domain.
 
Written By: Kolomona
URL: http://www.tsickist.com
Now I’m really glad I bank with them. It’s nice to see a comercial enterprise willing to take a stand.
 
Written By: Rob
URL: http://www.bighracing.com/blog/

 
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