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.
In Cleveland, Ohio: The Community Reinvestment Act is a critical
component of our community’s affordable housing and community
development solutions. For the past 35years, Famicos Foundation] has
built 700 homes and helped to create 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.
