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FDIC Federal Register Citations
From: Dtoocalstein@aol.com [mailto:Dtoocalstein@aol.com]
Sent: Monday, October 18, 2004 10:03 AM
To: Comments
Subject: RIN 3064-AC50
Dear FDIC
I am opposed to the proposed changes to the Community Reinvestment Act (CRA).
It would greatly curtail housing investment and lending as well as retail
services in low and moderate income areas. The proposed rule change would
expand the difinition of small banks, which are currently exempt from the
most meaningful CRA standards, to include most FDIC-regulated banks. This
proposal's impact on rural areas is particularly severe, as rural banks would
be able to get CRA credit for just about any activity, regardless of what
income group is served.
CRA has been an effective financial vehicle for rural and urban communities
for decades. Low and moderate income families of all races and ethnicitied
have benefited from CRA with increased opportunities to purchase homes, open
small businesses, or operate farms.
I AM OPPOSED TO THE PROPOSED CHANGE TO THE CRA.
Thank you for your attention, Dorothy Calvani
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