NEW HAMPSHIRE CHARITABLE FOUNDATION

From: Racheal Stuart [mailto:rs@nhcf.org]
Sent: Monday, September 20, 2004 7:00 AM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment

Dear Mr.. Feldman:

I am a representative of a statewide Community Foundation. I am writing to voice my opinion in opposition to the proposed revision to the Community Reinvestment Act (CRA). The revisions weaken CRA requirements for banks between $500 million to $1 billion in assets. This proposal will result in fewer home and small business loans to low- and moderate-income borrowers and fewer community development loans and investments in low- and moderate-income communities - particularly in rural areas.

As a Community Foundation, we have been able to leverage CRA support from New Hampshire Banks with public charity grants and private gifts. This public-private partnership has enabled community based nonprofits in the state to provide significant, meaningful support for housing, community development and small business development. Without the partnership of banks, as required by CRA, the impact of support in New Hampshire would be far less.

I sincerely hope that you will withdraw your proposal.

Sincerely,
Racheal Stuart
Vice President of Programs
NH Charitable Foundation
37 Pleasant St.
Concord, NH