From: Peter Armato [mailto:peter.armato@verizon.net]
Sent: Friday, September 17, 2004 11:47 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
Comments on Community Reinvestment, 12 CFR Part 345:
I oppose the FDIC's proposed rule change amending the Community
Reinvestment Act regulations to examine banks with assets above
$250 million as “small banks.” While I understand some
of the rationale for this proposed rule change, the net result
of this proposed policy would be to reduce lending, investments,
and financial services in many low-income communities in urban
and rural America.
Speaking for myself as an individual who cares about community
development and the health of America’s cities, I believe
this well-meaning proposal would have negative, unintended consequences
and therefore, would oppose the change.
Please keep me apprised of the status of this proposal.
Thank you,
Peter Armato, Director of Research & National Forums
CEOs for Cities
One Post Office Square, Suite 1700
Boston, MA
