From: Mike Hodge [mailto:mhodge@tnrc.net]
Sent: Thursday, September 16, 2004 6:16 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.
Here in Nashville, we are seeing massive growth in abusive
pseudo-services for low-income people, including title loans, paycheck
loans, and "tote the note" car dealers. Weakening the CRA will only
result in fewer reputable financial services that are available for
low-income people and an increase in these abusive rip-offs.
Sincerely,
Mike Hodge mhodge@tnrc.net
Neighborhoods Resource Center
P.O. Box 100941
14 Academy Place; Suite 2
Nashville, TN 37224-0941
Phone 615-782-8212 Ext. 26
FAX 615-782-8213
