From: Bethany&Rodney Sanchez [mailto:bethanyrodney@hotmail.com]
Sent: Thursday, September 16, 2004 6:04 PM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment
RE: RIN 3064-AC50, Community Reinvestment
Dear Mr. Feldman:
I am writing as a concerned citizen to express my strong opposition
to the FDIC's proposal to significantly weaken the Community
Reinvestment Act (CRA). I believe that the FDIC's proposal will result
in significantly fewer home loans and small business loans to low and
moderate income borrowers, and significantly fewer community development
loans and
investments in low and moderate income communities.
I am concerned that the proposal would allow banks to earn CRA points
by financing community development projects that benefit affluent
residents in rural areas instead of low and moderate income consumers
and communities. This is directly contrary to CRA’s focus on meeting the
credit needs of low and moderate income communities.
In summary, the proposal will result in significantly fewer loans,
investments, and branches in low and moderate income communities. Please
withdraw this harmful proposal.
Sincerely,
Rodney Sanchez
2303 E. Belleview Place, #1
Milwaukee, WI 53211
