After having its annual meeting and corporate headquarters repeatedly protested by environmental groups, it appears Bank of America and the rest of the banking industry may be listening.
For 2012, financing to the coal industry reportedly fell around 50%. Granted, this may be due to lack of demand as well, but environmentalists appear to be pleased with the progress. According to a recent study led by the Rainforest Action Network, Bank of America reduced its coal lending by roughly 48% -- but remained the biggest lender.
Should investors be encouraged that the bank is "doing the right thing" or discouraged that the bank is moving away from a business? In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer debate the topic.
Bank of America's stock doubled in 2012. Is there more yet to come? With significant challenges still ahead, it's critical to have a solid understanding of this megabank before adding it to your portfolio. In The Motley Fool's premium research report on B of A, analysts Anand Chokkavelu, CFA, and Matt Koppenheffer, Financials bureau chief, lift the veil on the bank's operations, including detailing three reasons to buy and three reasons to sell. Click here now to claim your copy.
The article Bank of America Cares About the Environment -- Sort Of originally appeared on Fool.com.
David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America. The Motley Fool owns shares of Bank of America, Citigroup, and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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