Dear Officials of Federal Bank and Thrift Agencies:
For more than 25 years, the CRA has encouraged banks to better serve
U.S. communities It is an outrage that you propose to block that citizen
oversight of 1,111 banks that account for more than $387 billion in
assets. Those not-so-small banks may seem small in comparison with the
megabanks, but they are HUGE to the communities they serve. Poor and
minority communities deserve the right to a watchdog and, if necessary,
to discipline their banks to fulfill every bank's public obligation to
serve ALL of their community, without unfair exclusion and without
predatory practices. We cannot go back to redlining policies of the
past.
CRA is a law that makes capitalism work for all Americans. It is far
too vital to be gutted by harmful regulatory changes and neglect.
Thank you for your attention to this critical matter.