FDIC Federal Register Citations
Nevada Fair Housing Center
From: nevadafairhousing@nfhc.org [mailto:nevadafairhousing@nfhc.org]
Sent: Wednesday, October 20, 2004 10:19 PM
To: comments@fdic.gov.
Subject:
Dear Mr. Feldman:
Nevada Fair Housing Center is a private non-profit. Our mission is to
provide, to the communities we serve, education, legal advice and
representation, technical assistance and financial services related to
housing and consumer issues.
Over the last five years, we have seen a decrease by all financial
institutions in financial services to working familities. In the fastest
growing city in the country, this lack of access to credit and capital
affects low income populations. Small banks, under current standards,
have
failed to meet the credit needs of consumers within their service area.
We are strongly opposed to a weakened Community Reinvestment standard
for
banks between $250 million and $1 billion in assets. This proposal will
leave a wider gap in financial services for these populations. Further,
your proposal will reduce the number of community development loans to
low
to moderate income neighborhoods. In short, your proposal to change CRA
will result in much fewer loans, investments, and branches in low and
moderate income communities. An alternative would be to require banks
under $250 million to meet appropriate standards, just as large banks
must
comply with CRA guidelines.
Sincerely
Nevada Fair Housing Center
Las Vegas, NV
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