From: Ivan Hernandez [mailto:ivanchernandez@hotmail.com]
Sent: Friday, October 08, 2004 11:59 AM
To: Comments
Subject: RE: RIN 3064-AC50
Ivan Hernandez
2075 Rentfrow Ave
Las Cruces, NM 88001
October 8, 2004
FDIC FDIC
Dear FDIC FDIC:
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:
I'm not going to send you the traditional e-mail that goes over all
the specific jargon fwhy wakening CRA requirements for banks is not a
good thing, instead I’d like to tell you a story. I understand that if
we all lived in a perfect world there would be no need for any of these
requirements. But, unfortunately we don't. I work in a community that
looks like a third world country. These areas of our country are known
as "colonias". One day I made an appointment with the VP of the largest
local bank and asked her if she could tell me what type of first time
homebuyer programs they had. And if they did not have any, how we could
work together to come up with some. I will never forget her response to
me. "We don't do them loans, them loan take too long, there is no
profit" I said thank you, and quietly stepped out. Now, with that type
of attitude do you fell we are ready to lessen the CRA requirements?
Sir, I need your help! Without these regulations supporting my efforts
what am I to do? I would love for you to come out to my part of the
country and see first hand what we face in these communities. And if the
new CRA proposals do get passed, I'd like you to explain to the families
and children that will be affected why it is that our government does
not see the need to support the citizens of these communities.
