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Old 01-25-2006, 02:04 PM   #1
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The Man actually sticking up for the little guy

Regional bank to refuse loans in eminent domain projects
By Paul Nowell, Associated Press Writer | January 25, 2006

CHARLOTTE, N.C. --Regional bank BB&T Corp., one of the nation's largest financial institutions, 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 company said Wednesday.

"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, the bank's chairman and chief executive, said in a statement.

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Old 01-25-2006, 03:30 PM   #2
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Nice. Gives you some hope in people.

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Old 01-25-2006, 03:35 PM   #3
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I saw John Allison speak here at my uni not that long ago...kind of a dull guy who rambled for over an hour but a good guy nonetheless.
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Old 01-25-2006, 03:35 PM   #4
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BB & T
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Old 01-25-2006, 08:24 PM   #5
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Thanks for posting this!
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Old 01-26-2006, 01:25 PM   #6
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Are redevelopment loans riskier than standard business loans? Perhaps there is a financial incentive to dropping this line of business.

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