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(Marketwatch)   Bank of America decides to be slightly-less jerks   (marketwatch.com) divider line
    More: Spiffy, Bank, Finance, Canada, Proposal, Trump administration, head of Bank of America, United States, Petroleum  
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779 clicks; posted to Business » on 02 Dec 2020 at 9:55 AM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



14 Comments     (+0 »)
 
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2020-12-02 9:07:52 AM  
Or, alternatively, "Bank of America joins other established financial institutions in deigning to pour money into a project that will be one of the first Trump policies derailed by a Biden administration."
 
2020-12-02 9:12:16 AM  
I dont believe you.gif
 
2020-12-02 9:24:01 AM  
Ok, I can give them this....not that it really matters.  They get this and saving that soul food restaurant from closure in downtown Charlotte.  They get those two things.
 
2020-12-02 9:25:54 AM  
The Sierra Club last month positioned Bank of America as "the only major U.S. bank not to rule out financing for the destruction of the Arctic refuge" after its five biggest competitors updated policies. Pressure had also mounted from other environmental groups.

So, they reluctantly did this after being publicly shamed. It would also not surprise me if they setup a separate shell company to bankroll the project. That's how highly I regard their ethics. I would rather deal with a South Philly loan shark than BoA.
 
2020-12-02 10:14:39 AM  
 
2020-12-02 10:22:12 AM  
This is not about being a good corporate citizen, it is a decision about money they can turn into PR.

/Don't trust them
 
2020-12-02 10:22:57 AM  
From an investment side is this even a good business decision? It does not look like oil extraction is a long term growth business. With so many failing petroleum companies now, why would BoA want to get involved? The environmentalism angle provides nice cover for them.
 
2020-12-02 10:33:21 AM  
They also credited accounts what they were overdrawn, temporarily, so that they could get Access to their 1200 covid19 checks
 
2020-12-02 10:36:09 AM  
During Biden's inaugural address, he should announce that he is designating ANWR as a national park under the Antiquities act.
 
2020-12-02 10:50:09 AM  
Cool.  But I still won't ever bank with them again.

About 5 or 6 years ago I was going through a rough patch financially, and these bloodsucking cockroaches made it so much worse.

Credit Unions or GTFO.
 
2020-12-02 10:54:51 AM  
Read: We're not sure how to price this loan given all of the potential risks of loss and theoretical reputational damage.

/bank risk analyst
 
2020-12-02 1:43:51 PM  

Pocket Ninja: Or, alternatively, "Bank of America joins other established financial institutions in deigning to pour money into a project that will be one of the first Trump policies derailed by a Biden administration."


More like not going to pour money into a product already saturated with supply.
 
2020-12-02 3:38:25 PM  

Pocket Ninja: Or, alternatively, "Bank of America joins other established financial institutions in deigning to pour money into a project that will be one of the first Trump policies derailed by a Biden administration."


or they are just working off the assumption that Trump is always wrong and has terrible business sense, which has been proved true many, many, many, many times.
 
2020-12-02 5:53:18 PM  

ThatSillyGoose: Cool.  But I still won't ever bank with them again.

About 5 or 6 years ago I was going through a rough patch financially, and these bloodsucking cockroaches made it so much worse.



Same here . Blamed it on Obama .
/ fark BOA
 
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