NACA Press Releases

NACA Opposes FleetBoston’s Attempt To Gobble Up Summit Bank

December 13, 2000

NACA Lodges Formal Protest to Fleet’s Acquisition Plans with the Federal Reserve Bank of Boston. With the results of Fleet Bank’s acquisition of BankBoston still stinging Massachusetts residents, Boston based Neighborhood Assistance Corporation of America (NACA) moved to prevent New Jersey consumers from suffering the same fate. Fleet’s acquisitions have dramatically reduced competition and service in the Northeast and have led to increases in fees and minimum balance requirements. “The burdens of Fleet’s insatiable expansion have fallen disproportionately on working people,” NACA’s CEO Bruce Marks says, ”New Jersey will provide Fleet’s newest victims.”

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One Thousand Homebuyers To Hit The Jackpot

August 24, 2000

On Saturday August 26th at Cross Roads Bingo beginning at 10:00 a.m. the Neighborhood Assistance Corporation of America (“NACA”) will host up to one thousand people at the largest homebuyer’s workshop in the history of San Antonio. These homebuyers have hit the jackpot at Cross Roads Bingo by participating in the best Mortgage Program in America. Working people can purchase homes with No Down Payment, No Closing Costs, No Fees, and at a below market interest rate (currently at 7.25% fixed). Participants do not need perfect credit and they receive comprehensive housing services at no cost. This huge workshop is the result of the tremendous demand for NACA’s program in San Antonio.

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Bruce Marks: Congressional Testimony

September 12, 2000

Bruce Marks warns Congress of subprime and predatory lending and the potential risk for the housing and banking industry in general. He predicted the collapse of the economy in 2008. (TRANSCRIPT)

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The Neighborhood Assistance Corporation & The Associates Announce The Most Historic Change Ever For Consumers In The Sub-Prime Market

May 10, 1999

The Neighborhood Assistance Corporation of America (NACA), the most innovative and largest national community advocacy and housing services organization, and Associates First Capital Corporation, the nation's largest home equity lender, today announce the joint development of a revolutionary loan program. The Mortgage Reduction Program will provide borrowers an opportunity to earn an automatic reduction in their interest rates on their home equity loans.

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