FDIC Federal Register Citations
From: McDonald III, John T. [mailto:mayor@ci.cohoes.ny.us]
Sent: Tuesday, October 19, 2004 12:44 AM
To: Comments
Cc: rngwiri@nahro.org; bevsigno@nycap.rr.com; Tremblay, Ed; charles.diamond@mail.house.gov;
ken_mackintosh@clinton.senate.gov
Subject: RIN 3064-AC50 Community Reinvestment Act Proposals
Dear Sirs:
It is with great dissatisfaction that I write in opposition to the raising
of the thresholds for the financial institutions involved with the
Community Reinvestment Act (CRA). This proposal, which raises the asset
threshold from $250 million to $1 billion is inappropriate at this
time and is in my eyes a plan to only benefit said financial institutions.
Language is also included to remove the requirements of the examination
on the investment and service elements and instead make them options
under the lending test. This is definitely a play towards the larger
financial institutions and a play away from the communities that would
have benefited from the program.
I ask that you take this comments under consideration as a decision is
being made.
Sincerely,
John T. McDonald III
Mayor
City of Cohoes
Cohoes, NY
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