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FDIC Federal Register Citations
From:
timclegg@comcast.net [mailto:timclegg@comcast.net]
Sent: Wednesday, October 20, 2004 1:34 PM
To: Comments
Subject: RIN 3064-AC50
Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429
Dear Mr. Feldman:
As a small business owner, I am aware of the vital role played by CDFIs
in revitalizing communities through affordable housing and small business
startups. The Community Reinvestment Act has provided banks with an important
incentive to work with CDFIs and provide vitally needed capital to struggling
communities.
I urge you to withdraw the FDIC’s rule proposal that would allow
midsize banks to pursue only one of the three important community development
activities they are now required to undertake: lending, investment, and
services. I believe that this misguided rule would mean a devastating
reduction in support for the essential work of CDFIs, resulting in fewer
jobs, fewer affordable homes, and fewer community services.
Yours Sincerely,
Timothy Clegg Timothy Clegg
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