Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50
Dear Mr. Feldman:
I am writing
to request that you to withdraw your proposed changes to the Community
Reinvestment
Act (CRA) regulations. My organization,
Famicos Foundation, knows firsthand that the CRA has been instrumental
in increasing homeownership, boosting economic development, and expanding
small businesses in the nation’s low- and moderate-income communities.
Cleveland Ohio:
For example: The Community Reinvestment Act is a critical component
of our community’s
affordable housing and community development solutions. For the
past XX years, [name of
organization] has built [number of] homes and helped to create [number
of] jobs, improving the lives of low- and moderate-income families
in our community. Without strong support from our financial institution
partners, this work would not have been possible.
The proposed
FDIC rule would exempt many of our community’s
key financial partners from the effective and productive requirements
currently in place. We oppose any increase to the threshold of what
is considered to be a small bank, and we urge the FDIC to withdraw
its proposed rule.