Big Bank Stands Up for Property Rights
The U.S. Supreme Court last year ruled that municipal governments can take away your property and give it to another private individual--a developer. This brutal extension of the doctrine of "eminent domain" has some state legislatures looking for a remedy.
But BB&T, one of the biggest banks in the Southwest, has already found a remedy. See "US bank bans loans to developers using seized land" by Andrew Ward, The Financial Times. We never expected to see a big bank standing up for the small property owner--so let's hear it for BB&T.
But BB&T, one of the biggest banks in the Southwest, has already found a remedy. See "US bank bans loans to developers using seized land" by Andrew Ward, The Financial Times. We never expected to see a big bank standing up for the small property owner--so let's hear it for BB&T.
