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FDIC Federal Register Citations From: valjames@earthlink.net [mailto:valjames@earthlink.net] Re: Preserving the Community Reinvestment Act Dear Mr. Feldman: As a socially responsible investor, I am aware of the vital role played by CDFIs in revitalizing communities through affordable housing and small business startups. The Community Reinvestment Act has provided banks with an important incentive to work with CDFIs and provide vitally needed capital to struggling communities. I urge you to withdraw the FDICs rule proposal that would allow midsize banks to pursue only one of the three important community development activities they are now required to undertake: lending, investment, and services. WHOSE REASONING DID YOU FOLLOW IN COMING UP WITH THIS IDEA? CERTAINLY ONE WHO IS ABSENT ANY CONCERN FOR THE GREATER PUBLIC GOOD. BY ANY HONEST AND OBJECTIVE RECKONING THIS MALIGN RULE CHANGE would mean a devastating reduction in support for the essential work of CDFIs, resulting in fewer jobs, fewer affordable homes, and fewer community services. Yours Sincerely,
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Last Updated 11/17/2004 | regs@fdic.gov |