Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW 20429
RE: RIN 3064-AC50
Dear Mr. Feldman:
For years I have realized the importance the CRA (Community
Reinvestment Act) has to creating opportunity and fighting inequity in
America, especially in cities, rural areas, and older suburbs. CRA is
vital for increasing homeownership and economic development in
lower-income communities. However, your proposed changes will halt the
progress that has been made.
Raising the threshold for banks to abide by the full requirements of
the CRA, from $250 million in assets to $1 billion in assets, will
significantly affect communities across America and water down the
intent of the Act. Your proposed test allows mid-sized banks to limit
their CRA activities significantly.
These changes should be opposed; the CRA has worked well for both
communities and banks.
Sincerely,
Marc Cittone
301 Peterson St #311
Fort Collins, CO 80525