From: Roberta S[pivek [mailto:rspivek@afsc.org]
Sent: Friday, September 17, 2004 3:01 PM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50
Roberta S[pivek
617 Pine Street
Philadelphia, PA 19106
September 17, 2004
Federal Deposit Insurance Commission
Dear Federal Deposit Insurance Commission:
As the resident of a large city full of deteriorating neighborhoods
and someone who has also traveled through Appalachia and other
distressed rural areas, I was shocked to learn of the proposed change to
the Community Reinvestment Act. If banks and thrift institutions no
longer have the impetus to provide loans and investments to help develop
homes and businesses in these communities, who will do so?
I agree with the National Congress for Community Economic Development
that this proposed change would have a devastating effect on affordable
housing and community development investment throughout the nation,
particularly
in rural areas. I urge you to rescind your proposal.