Fleet Expands Its Predatory Practices

(Boston, MA) – Fleet’s recent announcement of its acquisition of Summit Bank spells disaster for New Jersey residents and many others in Connecticut and Pennsylvania.   They can look forward to being exploited by a banking giant that is reviled throughout New England.

Terrence Murray, Fleet CEO, has a long track record of acquiring banks, and incorporating these institutions into this country’s most anti-consumer major financial institution.  Murray has acquired directly or indirectly every major and many smaller banks throughout New England.   But when it comes to consumer services provided by the nation’s twenty largest banks, Consumer Reports ranks Fleet second to last. 

When Fleet purchased Bank of Boston, Murray promised that the consumers would benefit.   By their own statements, fees increased for more than 750,000 working people.   New England residents are outraged over the fees imposed by Fleet for using an ATM, writing a check, doing a debit transaction, or talking to a teller just to access their own money.      

New Jersey residents will have the most predatory lending institution in the country as their dominant financial institution.  Surrounding states also have Fleet’s anti-consumer activities to confront. 

“Fleet is the evil empire.” states Bruce Marks CEO of NACA, “Due to Fleet’s dominant position they have been able to set the standard of charging working people outrageous fees for virtually every service and transaction.  It has been well documented in the media, including a 60 Minutes expose, that Fleet is a Loan Shark bank.  They set the standard when it came to predatory lending and now they are setting the standard when it comes to predatory fees.   Terrence Murray is the Darth Vader of banking.  Fleet is despised by New England residents but worshiped by Wall Street for its outrageous fees and skeleton work force.“

The people of New England are rebelling against Fleet’s evil empire.  They will join with working people throughout the Eastern U.S. to stop this predatory financial institution.  People can join the thousands of other Fleet victims and call NACA at 1-800-96-SHARK to join the Fleet Accountability Campaign.