NACA INITIATES WELLS FARGO JUSTICE CAMPAIGN

*****MEDIA ADVISORY*****
FOR IMMEDIATE RELEASE
Press Release – April 25, 2017

CONTACT:Tim Trumble, Media Coordinator, Cell: 617-947-2632; ttrumble@naca.com

Bruce Marks, NACA CEO, Cell: 617-835-4477; bmarks@naca.com

 

 

NACA INITIATES WELLS FARGO JUSTICE CAMPAIGN

 

ADVOCACY CAMPAIGN TO START WITH WELLS FARGO’S ANNUAL MEETING

 

 

(Jacksonville, FL – April 24, 2017) On Tuesday, April 25th in Jacksonville, FL, NACA, the nation’s largest housing and community advocacy organization is taking action at Wells Fargo’s annual meeting to hold Wells Fargo executives and board members accountable for the bank’s predatory practices.

 

NACA’s Wells Fargo Justice Campaign mobilizes Wells Fargo customers, employees, and other supporters in a nationwide multi-faceted campaign. The campaign identifies Wells Fargo account holders who had accounts established without their knowledge and others who have been exploited by the bank’s predatory practices. NACA’s campaign also demands that Wells Fargo address their downgraded “Needs to Improve” rating by the government, the worst of any major bank, by providing mortgages and credit to low-moderate income people and communities. NACA will refer people to and work with State Attorneys General and others to seek legal action to prosecute Wells Fargo for its abuses and hold its executives and board of directors personally accountable for the bank’s actions.

 

NACA has hundreds of thousands of members who collectively have more than $17 BILLION in balances with Wells Fargo in bank accounts, car loans, student loans, personal loans and mortgages. NACA is reaching out to these members to provide them the opportunity to divest from Wells Fargo. Bruce Marks, NACA Founder and CEO, states, “This gives working people enormous consumer power to hold Wells Fargo’s accountable.”

 

Marks continues, “Wells Fargo executives and directors are ultimately responsible for the bank they are charged with directing, and they need to be held personally responsible. Nearly all of the current executives and board members were serving in their positions during the time millions of phony accounts were being created. Now they want to continue in their positions despite violating their fiduciary responsibilities by either participating in this criminal behavior or incompetently failing to identify it. The questions that must be addressed at the annual meeting are: Why are they still on the board? Why are they still being paid, and most importantly, why are they being re-nominated?”

 

NACA is also reaching out to current and previous Wells Fargo employees, many of whom were similarly exploited by Wells Fargo during this scandal. NACA encourages them to join this campaign and participate in legal actions. The additional outreach includes NACA’s two million members, and anyone who was a victim of the phony account scandal or otherwise exploited by Wells Fargo. NACA encourages them to move their accounts from Wells Fargo to other institutions, file a complaint with their state’s Attorney General, join private lawsuits, and participate in upcoming demonstrations and other actions against Wells Fargo.

 

Anyone who has been victimized by Wells Fargo’s predatory actions or simply wants to help NACA in seeking economic justice may contact NACA by emailing advocate@naca.com.

 

About NACA (www.naca.com):

NACA is the largest and 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 home loans for borrowers who come through NACA. 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

 

 

 

 

 

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