From: Judithmarquess@aol.com [mailto:Judithmarquess@aol.com]
Sent: Sunday, September 19, 2004 8:22 PM
To: comments@fdic.gov.
Subject: Fwd: Important: help save the community reinvestment act
In a message dated 09/19/2004 8:23:06 AM Eastern Daylight Time,
Kathleen.K.Shepherd@Dartmouth.EDU writes:
Dear Mr. Feldman:
I am a concerned citizen (or representative of a community group)
strongly
opposed to your proposal to significantly weaken the Community
Reinvestment Act (CRA). You propose much easier CRA requirements for
banks between $500 million to $1 billion in assets. This proposal will
result in much fewer home and small business loans to low- and
moderate-income borrowers and much fewer community development loans and
investments in low- and moderate-income communities. In addition, you
propose that banks can earn CRA points by financing community
development
projects that benefit affluent residents in rural areas, instead of low-
and moderate-income consumers and communities in rural America. This is
directly contrary to CRA$E2s focus on meeting credit needs of low- and
moderate-income communities. In sum, all of your proposals will result
in
much fewer loans, investments, and branches in low- and moderate-income
communities. Please withdraw your harmful proposal.
