From: Jenise Terrell [mailto:jeniset@publicallies.org]
Sent: Thursday, September 16, 2004 1:23 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
I strongly 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. Financial institutions are a
vital component in the redevelopment of our unstable communities.
This proposed policy will weaken the incentive for financial institutions
to provide lending and investment to communities in central cities
and rural areas throughout the country. Communities throughout the
City of Milwaukee, and other like urban areas, are beginning to show
signs of improvement. Much of the investment made in these areas
by nonprofits, developers, and government is happening because of
our financial institutions’ involvement in these ventures.
I hope that you reconsider the proposed act.
Jenise Terrell
Director of Resource Development
Public Allies, Inc.
Milwaukee, WI
