From: Andy Hutzel [mailto:restoc@overtherhine.org]
Sent: Friday, October 08, 2004 8:58 AM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50
Andy Hutzel
114 W 14th Street
Cincinnati, OH 45202
October 8, 2004
Federal Deposit Insurance Commission
Dear Federal Deposit Insurance Commission:
Despite the successes of community development locally and
nationally, the banks and thrift institutions that provide the loans,
services, and investments to build new homes, businesses, and community
facilities may no longer have the impetus to do so if the FDIC raises
the comprehensive CRA exam threshold.
I agree with the National Congress for Community Economic Development
that this proposed change would have a devastating effect on affordable
housing and community development investment throughout the nation,
particularly in rural areas. The proposed community development
criterion is not a replacement for ensuring adequate services and
investment reach low- and moderate-income individuals and communities.
Successful development must be targeted to lower income individuals
and/or communities, not rural areas generally.
