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FDIC Federal Register Citations From: adventuredomwan@atsat.com [mailto:adventuredomwan@atsat.com] 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
socially responsible investors, we are 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. We urge you to withdraw the FDICs 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. We believe that this 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. Yes,
We've borrowed the wording for this - but, no that doesn't mean that the
message carries less weight. We hope that enough others will respond by
sending this email that it will make a difference. Yours Sincerely, Wanda
Allison and Dominick Macan Wanda Allison and Dominick Macan
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Last Updated 11/17/2004 | regs@fdic.gov |