(Boston, MA) On Thursday May 18th at 10:00 a.m. in Room A-1 of the state house, legislation will be proposed to limit the outrageous fees banks are imposing on the residents of New England. The Bank Fee Fairness Act legislation will be presented by sponsor Representative Jarrett Barrios, co-sponsors, Secretary of the Commonwealth William Galvin with the support of many community residents who are fed up with Fleet’s fees and other banks who are following the Fleet standard.
New England residents are outraged over the fees imposed by banks for using an ATM, writing a check, doing a debit transaction or talking to a teller just to access their own money. This legislation would base the fees for bank services and transactions on the cost of providing that service or transaction. Fleet and other banks could make a reasonable profit but not be allowed to extort people due to their monopoly position. “New England is subjected to the dominance of one major bank” states Bruce Marks CEO of NACA, “due to Fleet’s monopoly control they have been able to set the standard of charging outrageous fees on working people for virtually every service and transaction. Terry Murray views New England as his empire where he can impose any fee (i.e. tax) he wishes. The people of New England are rebelling against Fleet’s evil empire.”
The members of the Massachusetts legislature will need to choose between standing with Fleet and their predatory fees or with the working people of Massachusetts. Representative Jarrett Barrios will be sponsoring the Bank Fee Fairness Act with over twenty co-sponsors and many community supporters at the following event:
Date: Thursday May 18, 2000
Time: 10:00 a.m.
Where: State House Room A -1