From: Farhat, Samer [mailto:Samer.Farhat@wacker.com]
Sent: Thursday, October 07, 2004 6:50 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
I have recently learned of the proposed changes for the Community
Reinvestment Act and I am urging you not to change the CRA, but leave it
as it is. Financial instituions have a responsibility to their
communities and through the many years since the CRA was enacted
financial institutions have helped support a lot of good in poorer areas
of the country. It would be wrong to remove the regulatory requirements
on some financial institutions by exempting them based on a change in
the asset definitions. Please, keep the CRA as it is and allow it to
continue to work to improve underserved communities. The FDIC proposed
change will only hurt America. The long term implications on our country
would be staggering as communities would be left to flounder in crime,
poor housing, and poor employment. This would only cause more harm to
our country, its finances, and its people.
Thank you.
Samer Farhat
Product Development Chemist
WACKER SILICONES
Precision Silicones, Inc.
13910 Oaks Ave.
Chino, CA 91710, USA
Phone: 909-590-8822
Direct: 909-902-6345
