FDIC Federal Register Citations
From: Karen LaFrance [mailto:klaf@cox.net]
Sent: Tuesday, October 19, 2004 11:08 AM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50
Karen LaFrance
2216 East Christy Drive
Phoenix, AZ 85028
October 19, 2004
Federal Deposit Insurance Commission
Dear Federal Deposit Insurance Commission:
Dear Sirs/Madams: The present effort to weaken the Community Reinvestment
Act is wrong.
I have been in community development for 25 years and I remember the
almost entirely public sector "redevelopment " days. With CRA,
those days
ended and private capital flowed judiciously with community group partners
into poor communities. Those investments represented the life savings
of
working poor families combined with mortgages from banks and all helped
to
stabilize neighborhoods. The new cities of the West now have the same
problems in older neighborhoods that cities of the East had 25 years
ago.
Weakening CRA will hurt these cities and their older neighborhoods. These
policies which in essence stomp all over poor communiites where folks
either don't vote or don't vote Republican hurt EVERYBODY. Please rescind
your proposed rulings; I am opposed to weakening CRA.
Sincerely,
Karen LaFrance
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