FDIC Federal Register Citations
From: flam@warnkecc.com [mailto:flam@warnkecc.com]
Sent: Thursday, October 14, 2004 2:09 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
10/14/04 2:09:15 PM
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50
Dear Mr. Feldman:
I am writing to request that you to withdraw your proposed changes to
the Community Reinvestment Act (CRA) regulations. My organization,
Warnke Community Consulting, knows firsthand that the CRA has been
instrumental
in increasing homeownership, boosting economic development, and
expanding small businesses in the nation’s low- and moderate-income
communities.
The Community Reinvestment
Act is a critical component of our community’s
affordable housing and community development solutions. I have worked
with several community development organizations throughout New York City
for years, organizations like the Community League of the Heights
("CLOTH"). For the past 52 years, CLOTH has built or rehabilitated
over
1000 homes, improving the lives of low- and moderate-income families in
the community of Washington Heights, one of New York's most disadvantaged
neighborhoods. Without strong support from our financial institution
partners, this work would not have been possible.
The proposed FDIC rule would exempt many of our community’s key
financial partners from the effective and productive requirements
currently in place. We oppose any increase to the threshold of what
is considered to be a small bank,and we urge the FDIC withdraw its
proposed rule Sincerely,
Francis Lam
Warnke Community Consulting
New York, NY 10038
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