From: Lise McKean [mailto:lmckean@impactresearch.org]
Sent: Friday, September 17, 2004 6:06 PM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50
Lise McKean
926 N Wolcott
Chicago, IL 60622
September 17, 2004
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 may no longer have the impetus to do so if the FDIC raises
the comprehensive CRA exam threshold.
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 rural areas.
With poverty as affecting so many communities across the country, it
is bad public policy to introduce measures that undermine laws that
revitalize communities, increase minority homeownership, and increase
small business ownership for women and minorities.
