From: Joanna Villone Hicks [mailto:joanna@windndc.org]
Sent: Thursday, September 16, 2004 1:16 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
I oppose the FDIC's proposal to allow banks with assets above $250
million to be examined as small banks under the Community Reinvestment
Act. This policy would reduce lending, investments and services in
low-income communities, like the ones in which I work in St. Paul and
Minneapolis. The CRA guidelines have prompted many banks in our area to
develop community lending practices that give new immigrants, minorities
and low income communities opportunities to achieve greater wealth and
assets through business development and homeownership. In a time when we
need more opportunities, not less, this rule would discourage the types
of positive steps that we have seen since the CRAs creation.
Thank you.
JoAnna Villone Hicks
Real Estate Development Director
_________________________________________
Neighborhood Development Center
651 ½ University Avenue
St. Paul, MN 55104
651-291-2480 x15
Fax: 651-291-2597