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FDIC Federal Register Citations
Mutual Housing Association
of South Central Connecticut
From: Lee [mailto:Lee@mutualhousing.net]
Sent: Monday, October 18, 2004 10:58 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
To whom it may concern:
Every day my colleagues and I are in contact with low and moderate
income families who are struggling to make ends meet. Some of the people
that we interact with are fortunate enough to live in one of our units
and thus they are somewhat sheltered from the market forces that impact
their rent, a major expense for these families, most are not so lucky.
The FDIC's proposal to allow banks with assets above $250 million to
be examined as small banks under the Community Reinvestment Act will
make it harder to continue to develop affordably priced housing for
families in the low and moderate income levels. This change will reduce
lending and investment that helps families who are the backbone of
the American economy, low and moderate income working families. For
this reason we OPPOSE this change and urge that the current policy
be kept in place.
Thank you
Lee Cruz
Director of Community Development
Mutual Housing Association
of South Central Connecticut
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