Page 22 - Bank of America E Case Study

institution's 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.