Page 194 - Bank Case Studies

own mortgage sales as well as the conduct of subprime

mortgage lender Countrywide and broker Merrill Lynch. (21)

BofA was further criticized for its heavy investment in the

environmentally damaging processes of coal mining,

especially through mountaintop removal (MTR). May, 2015,

saw the company announce that it would "reduce [its] credit

exposure ... to the coal mining industry," i.e. reduce its

financing of companies engaging in MTR, coal mining, and

coal power production. The company stated that pressure
to divest from universities and environmental groups led to

this policy change.