From: Nancy Brandt [mailto:nhbrandt@earthlink.net]
Sent: Friday, September 17, 2004 4:53 PM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50
Nancy Brandt
222 E. Chestnut -Unit 16-B
Chicago, IL 60611
September 17, 2004
Federal Deposit Insurance Commission
Dear Federal Deposit Insurance Commission:
I urge you not to gut the CRA that has been so successful by excluding
the
vast majority of banks. I worked in a bank that was investing in
Chicago's lower-income neighborhoods, and I saw the excellent results.
Despite the successes of community development locally and nationally,
the
banks and thrift institutions that provided the loans, services,
and
investments to build new homes, businesses, and community facilities
may
no longer have the impetus to do so if the FDIC raises the comprehensive
CRA exam threshold.
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.
President Bushes comments
promoting an "Ownership Society" are
truly
disingenuous if the actions of officials he appointed are undermining
proven laws that revitalize communities, increase minority homeownership,
and increase small business ownership for women and minorities.
Please rescind your proposal.
Sincerely,
Nancy Brandt
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