Druid Heights Community Development Corporation
From: jacquelyn d cornish [mailto:dheights@smart.net]
Sent: Saturday, September 18, 2004 3:15 PM
To: Comments
Subject: CRA letter to FDIC
September 17, 2004
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50
Dear Mr. Feldman:
I am writing
to request that you to withdraw your proposed changes to the Community
Reinvestment
Act (CRA) regulations. My organization,
Druid Heights Community Development Corporation, knows firsthand
that the CRA has been instrumental in increasing homeownership, boosting
economic development, and expanding small businesses in the nation’s
low- and moderate-income communities.
The Community
Reinvestment Act is a critical component of our community’s
affordable housing and community development solutions. For the past
16 years, Druid Heights Community Development Corporation has built
over one hundred homes and helped to educate more than 1,500 of low-
and moderate-income families in our community. Without strong support
from our financial institution partners, this work would not have
been possible.
The proposed
FDIC rule would exempt many of our community’s
key financial partners from the effective and productive requirements
currently in place. We oppose any increase to the threshold of what
is considered to be a small bank, and we urge the FDIC to withdraw
its proposed rule.
Sincerely,
Jacquelyn D. Cornish
Executive Director
Druid Heights Community Development Corporation
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