From: Kari Jo Grant [mailto:karijo1030@yahoo.com]
Sent: Friday, September 24, 2004 10:42 AM
To: Comments
Subject:
Dear Mr. Feldman:
I am a member of Our Savior Lutheran Church in Hanover, NH and I want
you to know that I am strongly opposed to your proposal to significantly
weaken the Community Reinvestment Act (CRA).
You propose much easier CRA requirements for banks between $500
million to $1 billion in assets. This proposal will result in much fewer
home and small business loans to low- and moderate-income borrowers and
much fewer community development loans and investments in low- and
moderate-income communities.
In addition, you propose that banks can earn CRA points by financing
community development projects that benefit affluent residents in rural
areas, instead of low- and moderate-income consumers and communities in
rural America. This is directly contrary to CRA's focus on meeting
credit needs of low- and moderate-income communities.
In sum, all of your proposals will result in much fewer loans,
investments, and branches in low- and moderate-income communities.
Please withdraw your harmful proposal.
