From: PEG MALLOY [mailto:pegmalloy1@msn.com]
Sent: Friday, October 01, 2004 7:29 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
I believe raising the asset threshold for small banks to $1 billion
would severely undermine partnerships that community based organizations
in the NeighborWorks Network have developed with banks. Banks are vital
partners in the work of NeighborWorks Organizations and the incentive
provided by CRA has been instrumental in building and maintaining these
partnerships. CRA provides an incentive for financial institutions to
reach out and develop relationship with NeighborWorks Organizations and
is a critical force in keeping banks committed to providing services and
products designed specifically for low and moderate income consumers.
While some banks might continue to serve low and moderate income markets
without the incentive of CRA, I firmly believe that most institutions
would not.
Peg Malloy
Portland Housing Center
Portland, Oregon
NeighborWorks Chartered Member
