From: James Coles
Sent: Thursday, September 16, 2004 2:52 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
I oppose the FDIC's
proposal to allow banks with assets about $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.
Proactive partnerships with banks are key to produce affordable housing,
especially in an environment with rapidly increasing construction costs
and shrinking local government budgets. This has been our experience
as a nonprofit affordable housing developer. Limiting the scope of
the CRA regulation would be a negative blow to providing opportunity
for housing in working class communities.
Sincerely
James Coles,
Project Manager
Resources for Community Development
Berkeley, CA