From: mlle.chatte@juno.com [mailto:mlle.chatte@juno.com]
Sent: Friday, September 17, 2004 11:13 AM
To: Comments
Subject: Community Reinvestment Act
I am writing to urge the FDIC to withdraw its proposed rule raising
the asset threshold for “small banks” from $250 million to $1 billion
and thus exempting these banks from the more stringent requirements of
the Community Reinvestment Act (CRA).
This change would have a devastating impact on investments in low and
moderate income communities, particularly in rural areas where
institutions with assets of $250 million to $1 billion hold the
principal market share. At a time when affordable housing is vitally
needed, and financing for community development proposals is critical,
this is not the time to exempt banking institutions from compliance with
the terms of the CRA.
