From: Valerie F. Leonard [mailto:valeriefleonard@msn.com]
Sent: Monday, September 20, 2004 6:30 PM
To: Comments
Subject:
I oppose the FDIC's proposal to allow banks with assets above $250
million to be examined as small banks under the Community Reinvestment
Act. I understand that this requirement could result in only 6% of
the banks in the country being required to complete the report. As
a resident and business owner in North Lawndale, I am all too familiar
with the effects of redlining and predatory lending practices in
the community. It is my belief that a significant number of North
Lawndale residents get financial services from lending institutions
that would fall below the $250 million threshold. If left to their
own devices, many of these institutions would not would not invest
in the community. We would return to the days of more overt redlining
and increase our already heavy reliance upon currency exchanges and
predatory lenders.
Valerie F. Leonard
Community Development Consultant
