Lovejoy
District Neighborhood Revitalization Services
September 30, 2004
Dear Mr. Feldman:
I am a concerned
representative of the East Buffalo Community in Buffalo, NY that
is 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.
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. Thank you for your time
and attention to this important matter.
Sincerely,
Denise Herkey-Jarosch, Planner
Lovejoy District Neighborhood Revitalization Services, Inc.
615 Walden Avenue
Buffalo, NY 14211
