From: Jenn Ogata [mailto:jennogata@hotmail.com]
Sent: Friday, October 15, 2004 1:38 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
To Whom It May Concern,
I implore you to reject proposed changes to the Community Reinvestment Act.
CRA is a vital component of the redevelopment efforts that are taking place
throughout the nation and these changes harm affordable housing, and
community and economic development, particularly in rural areas. CRA has
been a powerful impetus for community development loans, investments and
service that benefit low- and moderate-income person. With government
subsidies drying up, now is not the time to eliminate regulatory incentives
for private captial to leverage scarce subsidy dollars. The private sector
has a responsibility to invest in communities and the FDIC proposed rule
will diminish the expectation for private investment in communities that
need revitalization. Thank you for the opportunity to comment.
Sincerely,
Jenn Ogata