Foundation Communities

From: Walter Moreau [mailto:Walter.Moreau@Foundcom.org]
Sent: Monday, October 18, 2004 3:15 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

I am writing to express our opposition to the proposed rule change which would weaken the Community Reinvestment Act. The Community Reinvestment Act has played a pivotal role in “green lining” investment in neighborhoods and communities that have often suffered from dis-investment. Please do not mess with something that is a positive force for change in the field of community development. CRA is an important tool to encourage lending institutions – large and small – to invest in their whole community.

Foundation Communities is dedicated to creating housing where families succeed. We are a private, nonprofit organization serving Austin, Arlington, and Carrollton, Texas. We provide high quality, service enriched housing to over 2,000 families each year.

Please do not pass the proposed rule and weaken CRA.

Sincerely,

Walter Moreau
Executive Director
Foundation Communities