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, The
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, one of the Nation’s poorest cities, for example: The
Community Reinvestment Act is a critical component of our community’s
affordable housing and community development solutions. For the past 35
years, The Famicos Foundation has built or renovated over 700 safe,
decent, affordable homes and provided services to those with special
needs. Many of the families we serve are single, female-headed
households. 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.
Sincerely,
Amy Eiben
Famicos Foundation
1325 Ansel Road, Cleveland, OH
