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News ::
Community takes action against Fleet Bank - Apr. 17
16 Apr 2001
Press conference outside Fleet's annual meeting concerning their predatory practices at 10:15 a.m., Apr. 17. Protest will follow at the same location--Boston World Trade Center, 2nd floor ramp. Phone numbers for Fleet executive "Privacy Education Action."
On Tuesday April 17th at 10:15 am, the Neighborhood Assistance Corporation of America (NACA) will be coordinating a press conference and protest outside the Boston World Trade Center concerning Fleet’s abusive and deceptive violations of its customers’ privacy. NACA, as a Fleet shareholder, will then attend Fleet’s annual meeting to confront Fleet CEO Terrence Murray about the selling of mortgage holders’ private information to telemarketers and others. Hundreds of Fleet Mortgage holders will be staging demonstrations against Fleet.

The Attorney General of Minnesota previously filed suit against Fleet on behalf of Minnesota citizens, prompting NACA to launch its own investigation of Fleet’s practices. NACA received an overwhelming response after mailing alerts to over 100,000 Fleet mortgage holders throughout Massachusetts, Connecticut and Rhode Island, confirming that Fleet had acted on a national scale. Numerous customers in Massachusetts and other states discovered that they were receiving charges on their Fleet mortgage statements for services they had not ordered. These charges were authorized by unscrupulous telemarketers to whom Fleet had sold private mortgage information.

NACA will pursue this issue throughout the country. NACA is also encouraging people to help educate Fleet’s CEO on the concept of privacy. Flyers are being distributed today instructing people to call Murray and ask permission for NACA to release his social security number and other private information. “Fleet is the nation’s most anti-consumer predatory bank,” states Bruce Marks, CEO of NACA. “Years ago, 60 Minutes pegged Fleet as the ‘Loan Shark’ bank. When we stopped them from getting away with their second mortgage scams, they started gouging working people with some of the highest bank fees in the country–becoming known as Fee Bank. Now, it seems they want to become the standard-bearer for gross violations of privacy.”

Victims of Fleet’s predatory privacy practices will be on hand at the press conference to discuss their experiences with Fleet. Attorneys and others will also be present to discuss the lawsuit. Representatives of United for a Fair Economy will join the press conference to elaborate on their shareholder resolutions for Tuesday’s meeting.

Members of the community are asked to lend their support by joining the protest and by calling the Fleet executive offices at 617-434-9456, 617-346-0104, and 617-346-01xx, to request permission for NACA to release Fleet CEO Terrence Murray's private information.
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