NACA to Survey Thousands of Fleet Mortgage Holders Asking: Are You Satisfied

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For Immediate Release

July 7, 1999

The Neighborhood Assistance Corporation of America (NACA) announced today it will survey over 20,000 Fleet Bank customers. NACA will mail out the comprehensive survey to Fleet customers who have received mortgages since 1995. The questionnaire asks for responses in the areas of customer services and satisfaction. NACA feels strongly this type of in-depth investigation will play an important role as the Federal Reserve Board considers Fleet Bank's proposed acquisition of BankBoston.

NACA C.E.O. Bruce Marks will present the survey before the Federal Reserve Board during his testimony on Wednesday, July 7th at 12:15 p.m.. Marks will be joined by many homeowners who have benefited from the NACA program. According to Marks, "This acquisition will create a major financial powerhouse in New England banking. While Wall St. is in love with Fleet's low cost of business we have received numerous complaints about their poor services. NACA feels that the customers should play a greater role in the approval process." Marks continued, "The information will be used to educate the regulators, and as a part of the ongoing process to insure that Fleet provides the customer services and access to credit for all communities of New England."

NACA expects the Federal Reserve Board will accept the thousands of comments and take them into consideration during the Board's deliberations on the proposed acquisition.

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