From: Sheldon Weisgrau [mailto:sweisgrau@ruralhealthconsultants.com]
Sent: Wednesday, September 15, 2004 10:57 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
Dear Mr. Feldman,
I am writing in opposition to the proposed changes to the Community
Reinvestment Act. The CRA has been one of the most successful community
revitalization programs in the nation's history, allowing the development
of affordable housing and other projects that would not have been possible
otherwise. Other than CRA, there are few other options available to
the program's main beneficiaries, the poor, elderly, disabled and other
vulnerable members of society.
The change in the definition of a small bank will permit virtually
all banks that serve small towns and rural areas to back away from
their community development obligations, leaving consumers with fewer
choices and communities no options for financing needed development
projects. The proposed changes are contrary to Congressional intent,
benefiting only large financial institutions, not the communities targeted
by the program. As a health care professional, I have seen CRA's positive
impact on the development of rural medical clinics and other services
that would not have been possible without the program. The proposed
changes to CRA will make the already difficult task of providing access
to health care services even harder for rural and underserved communities.
I urge you to reconsider these changes.
Thank you for the opportunity to provide these comments.
Sheldon Weisgrau, Senior Partner
Rural Health Consultants
2500 West Sixth Street, Suite H
Lawrence, Kansas
