From: Sharon Boyd [mailto:sboyd2@rochester.rr.com]
Sent: Monday, September 13, 2004 9:31 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
I strongly oppose the proposed rule changes in the Community Reinvestment
Act (RIN 3064-AC50). This action will do harm to rural communities.
This surprise development of sidestepping Congress and exempting
3/4 of the affected banks from their CRA obligations has critical
implications for the future of rural America.
Without using a dime of taxpayer money, the Community Reinvestment
Act (CRA) has put more than $1.5 trillion into building affordable
housing, creating small businesses, and financing needed facilities
like healthcare and daycare centers in poor and middle class communities
across America.
People from small towns, farms, and working class neighborhoods
deserve access to financial services just like people from affluent
communities. If local investment goes away, then so do the opportunities
for working families who are striving to make their own way. They
deserve better.
