Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50
Dear Mr. Feldman:
I am a concerned citizen strongly opposed to your proposal to
significantly weaken the Community Reinvestment Act (CRA). You propose
much easier CRA requirements for banks between $250 million to $1
billion in assets. This proposal will result in much fewer home and
small business loans to low- and moderate-income borrowers and much
fewer community development loans and investments in low- and
moderate-income communities. In addition, you propose that banks can
earn CRA points by financing community development projects that benefit
affluent residents in rural areas, instead of low- and moderate-income
consumers and communities in rural America. This is directly contrary to
CRA's focus on meeting credit needs of low- and moderate-income
communities. In sum, all of your proposals will result in much fewer
loans, investments, and branches in low- and moderate-income
communities. Please withdraw your harmful proposal.
Sincerely,
Jean Brooks
cc:
National Community Reinvestment Coalition
President George W Bush
Senator John Kerry
Senator John Edwards