From: jasmine ong [mailto:queenyasmeen@yahoo.com]
Sent: Wednesday, September 29, 2004 2:12 PM
To: Comments
Subject: I oppose the proposed changes to Community Reinvestment Act
As a concerned citizen, I urge you to withdraw your
proposed changes to the Community Reinvestment Act
regulations (RIN 3064-AC50). CRA has been instrumental
in increasing homeownership and economic development.
This program, which has never cost taxpayers a single
penny, was hailed by The New York Times as "the most
successful community revitalization program in the
nation's history."
This action will do particular harm to rural
communities, and in fact the cost to taxpayers in the
form of aid to those who can no longer help themselves
runs the risk of reaching astronomical levels. Please
leave in place the Community Reinvestment Act, and
abide by its original spirit: that of helping poor
Americans use their own hard work and ingenuity to
pull themselves up using a helping hand instead of a
handout.
