BB&T opposes seizing land for private use
BB&T’s decision comes seven months after the U.S. Supreme Court said in a 5-4 ruling that state legislatures could pass eminent-domain legislation affecting private property.
BB&T Corp. weighed into the eminent-domain debate yesterday, saying that it would not make loans to commercial developers planning private projects on land seized from private homeowners by local governments. “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,” said John Allison, the chairman and chief executive of BB&T.
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