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FDIC Federal Register Citations
From: kbennett@localnet.com [mailto:kbennett@localnet.com]
Sent: Wednesday, October 20, 2004 11:03 PM
To: Comments
Subject: SPAM::RIN 3064-AC50
Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429
Dear Mr. Feldman:
As a socially responsible investor, I am aware of the vital role played
by community development financial institutions (CDFI) 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 FDIC’s 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. I believe this misguided rule would mean a significant reduction
in support for the important work of CDFIs, resulting in fewer affordable
homes, fewer community services, and fewer jobs. Thank you.
Sincerely,
Kristin Bennett, AICP
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