Subject: Request for the withdrawal of changes to CRA regulations.
Dear Officials of Federal Bank and Thrift Agencies: As the Executive
Director of the Southwest Fair Housing Council (SWFHC) based in Tucson
and serving the entire State of Arizona I strongly request that you
withdraw the present proposed changes to the Community Reinvestment Act
(CRA). It is the opinion of SWFHC, which represents over 200 members
across the State, that the proposed changes would reduce the rigor of
CRA for a large number of banks and would weaken disincentives against
predatory and abusive lending. SWFHC and other non-profit organizations
like ourselves have worked arduously against abusive lending for the
last several years and found the present provisions in CRA to be helpful
in this work. Any weakening of these provisions would serve to undercut
the advances we have made and frustrate our mission to thwart abusive
lending in Arizona. Sincerely, Richard Rhey, Executive Director,
Southwest Fair Housing Council. (SWFHC)
