From: Deborah Matrachisia [mailto:debmatt@rochester.rr.com]
Sent: Sunday, September 19, 2004 7:01 PM
To: Comments
Subject: RIN 3064-AC50
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 CRAs 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,
Deborah Matrachisia
2316 Nine Mile Point Road
Fairport, NY 14450