Bank Of America To Stop Financing Mountaintop Removal

01/10/2009 05:12 am ET | Updated May 25, 2011

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.
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