5:58 a.m. • 2-12-12
WINSTON-SALEM, N.C. — 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.
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