From: RubySlipr9@aol.com [mailto:RubySlipr9@aol.com]
Sent: Saturday, September 18, 2004 11:31 AM
To: Comments
Subject: CRA Proposal
Dear Mr. Feldman:
I am strongly
opposed to your proposal to significantly weaken the Community
Reinvestment
Act (CRA). You propose much easier CRA requirements
for banks between $250 million to $1 billion in assets. This proposal
will result in many fewer home and small business loans to low- and
moderate-income borrowers and many fewer community development loans
and investments in low- and moderate-income communities. In addition,
you propose that all FDIC-supervised banks can earn CRA points by
financing community development projects that benefit affluent residents
instead of low- and moderate-income consumers and communities. This
is directly contrary to CRA’s focus on meeting credit needs
of low- and moderate-income communities.
Please withdraw your harmful proposal to change the CRA regulation
that will result in many fewer loans, investments, and branches in
low- and moderate-income communities.
Sincerely,
Karen Colizzi Noonan
147 High St Geneva NY
