From: L PARKER
[mailto:lrparker14586@yahoo.com]
Sent: Friday, September 17, 2004 8:23 AM
To: Comments
Cc: lparker@ruralinc.org
Subject: RIN 306 -Ac50 Community Reinvestment
Dear Mr. Feldman:
I am a concerned citizen strongly opposed to your proposal to
significantly weaken the Community Reinvestment Act (CRA). You propose
much easier CRA requirements for banks between $500 million to $1
billion in assets. This proposal will result in much fewer home and
small business loans to low- and moderate-income borrowers and much
fewer community development loans and investments in low- and
moderate-income communities. In addition, you propose that banks can
earn CRA points by financing community development projects that benefit
affluent residents in rural areas, instead of low- and moderate-income
consumers and communities in rural America. This is directly contrary to
CRA’s focus on meeting credit needs of low- and moderate-income
communities. In sum, all of your proposals will result in much fewer
loans, investments, and branches in low- and moderate-income
communities. Please withdraw your harmful proposal.
Sincerely,
Louise R. Parker
Rural Opportunities, Inc.
400 East Avenue
Rochester, New York 14607
