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FDIC Federal Register Citations
From: Mask, Russell [mailto:mask@covenant.edu]
Sent: Monday, October 18, 2004 11:39 AM
To: Comments
Subject: SPAM::Community Reinvestment -- RIN 3064-AC50
Dear Sir/Ma'am,
I STRONGLY oppose the FDIC's proposal to allow banks with assets above
$250 million to be examined as small banks under the Community Reinvestment
Act. The CRA in its current form is one small step in reversing the
decades of bank red-lining that limited financial services for low-income
and particularly minority communities in our country.
Changes to this policy would reduce lending, investments and services
in low-income communities and further cement systematic inequalities
in our country. It would also likely INCREASE the prevalance of predatory
lenders such as check-cashing shops, payday loan shops, title loan
shops, etc.
Sincerely,
Russell P. Mask, Ph.D.
Covenant College
Lookout Mountain, GA
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