(Windsor, Ontario) – On Thursday, May 8e at 10:00 a.m. at the Cleary International Centre, Windsor, Ontario (201 Riverside Drive West), angry Ford victims will attend Ford’s annual stockholders meeting and confront Alex Trotman, CEO of Ford Motor Company, about their predatory lending practices.
As proxy holders, Ford victims will tell their experiences so Ford’s management and stockholders can learn directly the painful impact of Ford’s devastating lending practices. The majority of Ford’s profits come from financing rather than manufacturing automobiles. Ford is the largest home equity lender in the country. Thousands of people are at risk of losing their homes and/or financial ruin because of Ford’s bait and switch practices, outrageous fees, forced refinances and high interest rates.
Ford has become the country’s largest lender by paying kickbacks to mortgage brokers to steer their customers into Ford’s predatory loans. Ford also provides consumer loans and then baits people into a home equity loan that puts their most valued asset, their home, at risk.
NACA’s campaign against Ford, recently highlighted on ABC’s Prime Time Live and other media, continues at Ford’s annual meeting.
“Ford has fine tuned the art of Loan Sharking into a multi billion-dollar racket that has devastated the lives of ten of thousands of people throughout this country”, states Bruce Marks, NACA Executive Director. “Ford uses its reputation as one of the country’s most “respected” companies, with a motto “Quality is Job #1”, to get in the door of home owners and then it is only a matter of time for financial devastation or the loss of ones’ home to occur.”