Federal Deposit
Insurance Corporation

From: Maggie Cervantes [mailto:mcervantes@neweconomicsforwomen.org]
Sent: Friday, October 15, 2004 6:50 PM
To: Comments
Cc: NBE:LL@liscnet.org
Subject: Community Reinvestment -- RIN 3064-AC50

New Economics for Women (NEW) opposes the FDIC’s proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act. This policy would reduce lending, investments and services to low-income communities. NEW is a nonprofit community development organization that has bee able to leverage over $65 million in investment to poor communities to build affordable housing. We oppose this change to the CRA.

Sincerely,
Maggie Cervantes
Executive Director
New Economics for Women