BB&T won't finance eminent domain projects
Winston-Salem-based BB&T said earlier this week that it will not loan money to developers building projects where the land was seized by eminent domain.
No other banks have said they plan to follow suit so far. Last year the U.S. Supreme Court ruled in favor of allowing local governments to take private property for broad-based economic development purposes. Read the Washington Post article here.
Comments (3)
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I personally feel that this is a step towards eliminating fuedal system. And it is a good move.
Posted on March 10, 2006 1:17 PM
It is a good step, as long as they are restricting eminents will ill intentions but how about people who are sincere?
Posted on March 15, 2006 4:26 PM
They surely know how to differeniate between sincere ones and those up for making misuse of opportunities, now ain't they?
Posted on October 25, 2006 8:10 AM