From: KulpaBruce@aol.com [mailto:KulpaBruce@aol.com]
Sent: Thursday, September 16, 2004 2:11 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
As the Executive Director of a non-profit (501-c3) affordable housing
organization, I strongly oppose your intention to "gut" the
CRA requirements for banks. Your proposal to examine banks with
assets over $250 Million the same way as small banks is ridiculous.
It is hard enough now to attract lending, investments, and services
to low-income areas!
If you pass this proposal, you will initiate an immediate and dramatic
downward slide in our low-income neighborhoods as all lending and
bank investment in those areas will completely disappear!
Please do NOT succumb to pressure from banks that are trying to get
out of their low-income lending and investing requirements!
Thank you,
Bruce Kulpa - Executive Director
Riverside Housing Development Corp.
