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FDIC Federal Register Citations
From: Calli Berg [mailto:Calli@coloma-watervliet.org]
Sent: Tuesday, October 19, 2004 3:37 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
As an Economic Developer in a rural, small-town geography, our new and small
businesses do not have many sources of funding available to them. The
proposed change in CRA requirements will reduce their financial resources,
resulting in a serious impact on job creation and economic vitality in our
region and across the United States. The statistics vary, but up to 80% of
job creation comes from the existing small business who adds a small number
of jobs at a time. Reduce access to CRA funding and you will reduce this job
creation. Please consider this negative consequence when weighing the pros
and cons of changing CRA requirements.
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