From: Bridget Gavaghan [mailto:bgavaghan@msn.com]
Sent: Friday, September 17, 2004 6:36 PM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50
Bridget Gavaghan
852 W Belle Plaine Ave
Chicago, IL 60613
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.
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.
