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FDIC Federal Register Citations
From: Jenny Chung [mailto:jchung@domini.com]
Sent: Tuesday, October 19, 2004 12:09 PM
To: Comments
Subject: RIN 3064-AC50
Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429
Dear Mr. Feldman:
As a socially responsible investor, I am aware of the vital role played
by CDFIs in revitalizing communities through affordable housing and
small business startups. The Community Reinvestment Act has provided
banks with an important incentive to work with CDFIs and provide vitally
needed capital to struggling communities.
I urge you to withdraw the FDIC’s rule proposal that would allow
midsize banks to pursue only one of the three important community development
activities they are now required to undertake: lending, investment,
and services. I believe that this misguided rule would mean a devastating
reduction in support for the essential work of CDFIs, resulting in
fewer jobs, fewer affordable homes, and fewer community services.
Yours sincerely,
Jenny
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Jenny H. Chung
Associate, Marketing
Domini Social Investments LLC
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