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January 27, 2006
BB&T makes national headlines
BB&T made national headlines yesterday as news spread about its decision to stop financing real estate projects involving eminent domain.
Here's a sampling of the press coverage:
The Washington Post, BB& T Restricts Loans to Developers
The Washington Examiner, BB&T cuts eminent domain development loans
North Country Gazette, Bank Won't Finance Eminent Domain Projects
In a press release issued by the bank, BB&T Chairman and Chief Executive Officer John Allison, said, "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. One of the most basic rights of every citizen is to keep what they own. As an institution dedicated to helping our clients achieve economic success and financial security, we won't help any entity or company that would undermine that mission and threaten the hard-earned American dream of property ownership."
Sarasota Herald-Tribune, Letter to the editor: Kudos to bank for protesting abuse of eminent domain
Posted by lumi at January 27, 2006 7:09 AM