Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ISS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429-9990.
Re: RIN 3064-AC50
Gentlemen Re RIN 3064-AC50:
I strongly oppose the proposed rule changing the Community
Reinvestment Act regulations. In my opinion, it will greatly undermine
rural communities. I am Director of the Southwest Georgia Housing Task
Force and we provide financial education to first time homebuyers and
high school students. Many of these individuals and families are
categorized as low to moderate income families.
We provide financial education classes and first time homebuyer
workshops to these individuals on a quarterly basis. Our educational
curriculum includes such topics as predatory lending, credit and
budgeting. One of our goals is to increase information and access to
credit for low to moderate income families. We are constantly looking
for funding to provide more training opportunities to families as we
have discovered that credit worthiness is the greatest barrier to
homeownership.
The Community Reinvestment Act was designed to meet the credit needs
of the entire community and many of the financial institutions in Region
10 are doing just that. They often assist financially to help fund many
of the housing activities that our Task Force conducts. To change this
ruling will negatively impact the very people the Act was designed to
help. PLEASE DO NOT ADOPT THIS RULE.
Respectfully,
Barbara Reddick
Director, Southwest Georgia Housing Task Force
Camilla, GA
