September 9, 1995

Banking Terrorist takes on First Union

Community activist Bruce Marks is back, this time with First Union Corp. in his sights.

The self-described ''banking terrorist'' said Friday his Neighborhood Assistance Corp. of America plans to file a challenge with the Federal Reserve Board against First Union Corp.'s $ 5.4 billion merger with First Fidelity, one of the largest bank mergers announced this year.

Marks claims Charlotte-based First Union has an unacceptable lending record in moderate and low income communities. He plans to announce a new campaign against First Union at a rally today in Jacksonville, Fla.

First Union spokesman Jeep Bryant said the bank's lending record in low and moderate income communities ''is a strong one,'' with more than $ 5 billion in loans in such neighborhoods.

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