(Boston, MA) – On Tuesday April 18º at 11:00 a.m. hundreds of people will confront Fleet Stockholders at the Annual Meeting that will be held in the World Trade Center in protest of Fleet’s exorbitant fees. The Neighborhood Assistance Corporation of America (“NACA”) has organized this action at Fleet’s annual meeting as well as in the greater Boston area.
Tuesday is unique for New England since it is the only part of America whose taxes are due on this day as well as the only region that is subjected to the domination of one major financial institution with no competition. After taking over its competitor BankBoston, Fleet became New England’s only large-scale banking institution. Many consumers are forced to use Fleets extensive network of bank branches and ATMs because there are few alternatives left. Fleet is using its market domination and lack of competition to impose outrageous fees on its customers.
Hundreds of thousands of New England residents are fed-up with Fleet and no longer want to be subjected to their poor services and exploitative fees.
Bruce Marks, NACA CEO, states, “Fleet set the standard for its predatory lending practices in the second mortgage scam. Now Fleet is setting the standard in using fees to extort money from working people throughout New England.” Customers that do not have thousands of dollars in their bank account are subject to fees for virtually every transaction and communication they have with Fleet.
Hundreds of Fleet customers and protestors will be focusing on Fleet’s CEO, Terrence Murray and President, Charles Gifford at Fleet’s annual meeting at the World Trade Center beginning at 11:00 a.m. on April 18º. In addition, there will be a Fleet Tax Protest Caravan that will take the issue directly to Fleet.