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FDIC Federal Register Citations



COMMUNITY ACTION RESOURCE AND DEVELOPMENT, INC.




From: Jessica Marrujo [mailto:jmarrujo@cardcaa.org]
Sent: Tuesday, April 06, 2004 11:50 AM
To: regs.comments@ots.treas.gov; Comments; regs.comments@federalreserve.gov; regs.comments@occ.treas.gov
Subject: Proposed Changes to CRA Regulations

April 6, 2004

Docket No. 04-06
Communications Division
Public Information Room, Mailstop 1-5
Office of the Comptroller of the Currency
250 E St. SW,
Washington 20219

Docket No. R-1181
Jennifer J. Johnson
Secretary
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, NW
Washington DC 20551

Robert E. Feldman
Executive Secretary
Attention: Comments
Federal Deposit Insurance Corporation
550 17th St NW
Washington DC 20429

Regulation Comments, Attention: No. 2004-04
Chief Counsel¹s Office
Office of Thrift Supervision
1700 G Street NW
Washington DC 20552

Dear Officials of Federal Bank and Thrift Agencies:

As a member of the National Community Reinvestment Coalition, Community Action Resource and Development, Inc., (CARD, Inc.) urges you to withdraw the proposed changes to the Community Reinvestment Act (CRA) regulations. CRA has been instrumental in increasing access to homeownership, boosting economic development, and expanding small businesses in the low- and moderate-income communities we serve. Your proposed changes are contrary to the CRA statute because they will halt the progress made in community reinvestment.

The proposed CRA changes will prevent the goals of improving the economic status of minority homeowners and also change would make easier predatory lending and reduce the ability of the public to hold financial institutions accountable for compliance with consumer protection laws.

CRA is vital to community-based organizations and the population we serve. Your attention to this critical matter would be greatly appreciated.

Sincerely,
Georgene Zachary
Executive Director
C.A.R.D., Inc.
P. O. Box 947
Claremore, OK 74018



 

 

Last Updated 04/20/2004 regs@fdic.gov

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