From: Scarlett Emerson [mailto:scarlettemerson@novocon.net]
Sent: Sunday, September 19, 2004 1:03 PM
To: Comments
Subject: RIN 3064-AC50
Keuka Housing Council is a small not-for-profit housing agency servicing
the rural area of Yates County, New York. All of the banks in our area
are small local banks, such as the National Bank of Geneva, Lyons Bank
and Bath Bank. Our 1st Time Homebuyers receive mortgages through these
banks at reduced rates due to the CRA credits and KHC's bank accounts
are with National Bank of Geneva. KHC's accounts must be in FDIC insured
accounts. If CRA is "gutted" Keuka Housing Council's clients will need
to travel more than an hour to obtain face to face meetings with CRA
banks. Our own accounts would no longer be local and we would not have
the same intimate working relations and understanding that we now have.
I strongly oppose the proposed rule changing the Community Reinvestment
Act regulations. This really undermines our rural community. Please so
NOT adopt this rule.
Respectfully submitted,
Scarlett Emerson
Board member
Keuka Housing Council
