From: Sharon Clark [mailto:sccoah@bellatlantic.net]
Sent: Friday, September 17, 2004 5:23 PM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50
Sharon Clark
600 First Avenue, Suite 3
Raritan, NJ 08869
September 17, 2004
Federal Deposit Insurance Commission
Dear Federal Deposit Insurance Commission:
Despite the successes of community development locally and
nationally, the banks and thrift institutions that provided the loans,
services, and investments to build new homes, businesses, and community
facilities, in my opinion do so in great part due to the CRA Act.
I agree with the National Congress for Community Economic Development
that this proposed change would have a devastating effect on affordable
housing and community development investment throughout the nation,
particularly in our area of Somerset County and the surrounding rural
areas of Somerset County in New Jersey.
President Bushes comments promoting an "Ownership Society" are truly
disingenuous if the actions of officials he appointed are undermining
proven laws that revitalize communities, increase minority
homeownership, and increase small business ownership for women and
minorities.
Please rescind your proposal.
Sincerely,
Sharon M. Clark
