Bank Of America To Stop Financing Mountaintop Removal

One of the world's largest financial institutions said this week it will phase out lending money to coal operators that use mountaintop removal mining.

Charlotte-based Bank of America Corp. said it will stop financing companies that produce more than half of their coal from mountaintop removal.

"We feel the practice has a significant impact on the environment and on communities," said company spokesman Ernesto Anguilla.
Read the full story here.

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Comments

[fcsakes]

09:59 AM on 12/13/2008

A step in the right direction for BOA - let's see more of this kind of thing and I might consider putting my money back in banks. After awhile.

[Emerald1943]

06:19 PM on 12/11/2008

I live in the Appalachian chain and just signed a petition to stop mountain-top removal! The worst part is the dumping into streams and rivers!

Bank of American has done something right! After agreeing to continues loans to that company whose employees were given 3 days notice of layoff, and now refusing to fund this destructive practice, I am beginning to think better of them!

It's nice to finally see a very large corporation have just a little concern about the environment!

[Simpletruthiness]

11:27 AM on 12/11/2008

Where did this come from?

[Checquoline]

10:04 AM on 12/11/2008

Show me one mountain that has been replaced. Have you been to west Va. lately? The landscape is horrendous. These are the Blue Ridge Mountains! They can't replace them, they have taken them away. Do you know how big a mountain is?

[uglicoyote]

01:32 PM on 12/11/2008

And daddy wont you take me back to Muhlenberg county
Down by the Green River where paradise lay
Well, I'm sorry, my son, but your'e too late in asking
Mister Peabodys coal train has hauled it away

[uglicoyote]

02:07 PM on 12/11/2008

The song is "Paradise", words and music by John Prine and recorded may numerous artists including John Denver who had it on his Rocky Mountain HIgh Album." Go here to take a pictorial tour of the real "Paradise" on which Prine based the song. The pictures are tied to the lyrics. http://www.jpshrine.org/picshow/paradise/paradise.html

Good shot of some mountain top removal.

[Simpletruthiness]

09:13 AM on 12/11/2008

Wow this makes me want to run out and open and account.

[jan4insight]

12:01 AM on 12/11/2008

Wow, for once B of A does something right! I'll have to put some more $ in my account there...

[Wiredwilly]

08:57 PM on 12/10/2008

That's only because Bank of America already invested $ 7,000,000,000 to China. They could care less about America or the the environment

[lmvd3]

08:33 PM on 12/10/2008

Awesome!!! I think I'll have to consider them for my banking needs...

[veracity]

08:00 PM on 12/10/2008

Well, even great white sharks, and man-eating tigers, have to ease up long enough to mate...!

[uglicoyote]

01:58 PM on 12/11/2008

Hmmmm! A Great White Shark mating with a man-eating tiger? Now, I would pay to see the off-spring of that coupling.

[FortuneTeller]

06:56 PM on 12/10/2008

Love it!!!!! Way to go BoA.

[Checquoline]

06:33 PM on 12/10/2008

Well, now they have redeemed themselves in my opinion. Mountain top removal is one of the most devistating, horrendous, cancers on the earth besides the distruction of the rain forrests. I despise Sen. Byrd because I feel he could have done something all these years to stop it. Those mountains don't grow back. Shame on the people who started this horrible practice. Hurrah for anyone who can do something to stop it.