From: Myriam Gomez-Gonzalez
Sent: Friday, September 17, 2004 11:03 AM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment
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 $500 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,
Myriam Gómez González
Director
Rural Opportunities Puerto Rico, Inc.
