OVER $17 BILLION IN ACCOUNTS HELD BY NACA MEMBERS

OVER $17 BILLION IN ACCOUNTS HELD BY NACA MEMBERS

(Boston, MA) – Today, NACA launched the Wells Fargo Justice Campaign, which seeks to enlist NACA’s 229,825 members who have over $17 Billion in Wells Fargo accounts collectively, and other individuals to take action in light of Wells Fargo’s predatory practices.

The Wells Fargo Justice Campaign, link here, employs multiple strategies to hold Wells Fargo accountable for the damages it has inflicted on its customers and strives to make Wells Fargo a more responsible and accountable financial institution.

Wells Fargo account holders have enormous purchasing power. NACA seeks to unite these customers, along with NACA members, Wells Fargo employees and concerned people to:

• Participate in Protests – Join demonstrations and protests to hold Wells Fargo’s executives and directors personally responsible.
• Join the Lawsuits — Identify victims of the fake accounts scandal and encourage them to join with others in legal action against Wells Fargo.
• Customers Switch Banks — Take money to a different bank and leverage customers immense purchasing power to show Wells Fargo executives and directors the grave repercussions of Well’s predatory practices.    
• Become a Whistleblower — Encourage present and former Wells Fargo employees to become part of the campaign. As a previous or current employee, you are in the unique position to effect real change by sharing critical information to both support and join the Wells Fargo Justice campaign.

NACA’s Wells Fargo Justice Campaign began on April 25th when NACA’s CEO Bruce Marks and others confronted Wells Fargo’s CEO Tim Sloan during the Wells Fargo’s annual meeting in Jacksonville, Florida.  Bruce Marks demanded answers in order to hold the CEO and their board of directors accountable but was forcibly removed.  To hear the confrontation at Well’s annual meeting click here.

Marks said, “NACA, our Members and many others are in a powerful position to hold Wells Fargo’s executives and board of directors personally accountable for the bank’s predatory practices. Hundreds of thousands of NACA members have collectively over $17 Billion in balances with Wells Fargo in bank accounts, car loans, student loans, personal loans and mortgages.” Marks continues, “Wells Fargo acknowledged they have been exploiting their customers and even their own employees for over 15 years, yet their apology and cosmetic changes are not enough“

The government has taken an important step in downgrading Wells Fargo’s CRA rating to “Needs Improvement” which is the worst of any major bank, but more needs to be done.

Follow the campaign here: www.wellsfargojustice.com and on Facebook

About NACA (www.naca.com):

NACA is the largest HUD certified non-profit home ownership and community advocacy organization. NACA is the most effective organization in modifying mortgages and provides the best mortgage in the country. NACA CEO Bruce Marks was named Bostonian of the Year for 2007 because of his work in getting the major lenders and servicers to modify homeowner’s mortgages. See Bostonian of the Year. He has also testified before Congress on numerous occasions including September 12, 2000, being one of the first people to sound the alarm of the pending mortgage crisis. For more information go to www.naca.com.