From: Mary Helen Petrus
Sent: Monday, August 23, 2004 4:34 PM
To: Comments
Subject: RIN number 3064-AC50
To whom it may concern:
This is to comment on recent proposals to raise the asset threshold
for "small banks" from $250 million to $1 billion. If
this proposed change becomes fact, investments in low and moderate
income communities would plummet, as more banks would be subject
to less stringent CRA exams.
The Community Reinvestment Act has been an extraordinarily important
part of Cleveland's community and economic development efforts
in recent years. Any increase to the threshold of what is considered
to be a small bank would exempt many of our community's critical
partners from the requirements currently in place that have produced
very positive results for our city.
I urge FDIC to withdraw its proposed rule.
Sincerely,
Mary Helen Petrus
Director of Policy Development
Cleveland Neighborhood Development Coalition