A Worthy Corporate Stance

Doesn’t cost them a whole bunch, but it’s the thought that counts.

Regional bank to refuse loans in eminent domain projects
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.
In an interview, BB&T chief credit officer Ken Chalk said the bank expects to lose only a tiny amount of business but believes it was obligated to take a stance on the issue.
BB&T, which is headquartered in Winston-Salem, N.C., ranks among the nation’s top 10 banks by assets.

7 Responses to “A Worthy Corporate Stance”

  1. Mr. Bingley says:

    I think that’s awesome.

  2. I love the ‘obligated to take a stance‘. Wow. I hadn’t noticed any other business period who felt obligated toward anything. (other than the bottom line)

  3. Crusader says:

    Well, gives me even more respect for them. Maybe I should have considered their offer a bit more. Great news!

  4. Ken Summers says:

    Ha! beat you by half an hour!

  5. Ken Summers says:

    I take my small victories where I can find them

  6. (blahblahblahblahKENblahblahblah)
    You know, I NEVER goat when I beat you to something. Churlish. Especially when you have a lovely, long report and I have a pitiful snippet from the local fishwrap.
    Goat? Did I say goat?
    Pardon moi. I meant to say gLoat. I really did. Can’t imagine how a horned, cloven hoofed mammal slipped out instead.

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