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FDIC Federal Register Citations
From: hughesea@hotmail.com [mailto:hughesea@hotmail.com]
Sent: Wednesday, October 20, 2004 10:15 PM
To: Comments
Subject: 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 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 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 that this misguided rule 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,
Elizabeth Hughes Elizabeth Hughes
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