FDIC Federal Register Citations

From: Diane Smith [mailto:dismith@fairfieldmha.org]
Sent: Wednesday, October 20, 2004 2:38 PM
To: Comments
Cc: cra@nahro.org
Subject: RIN 3064-AC50

I hope that the “banking” consumer realizes the impact this proposal will have on their banking expectations and needs. As a small investor, I will have to consider moving my investments. At least 50% of the American people deal with banks that would fall under the asset threshold that this proposal projects. This proposal would limit the choices that a knowledgeable investor would have. I want to choose a bank, with the knowledge that $ amount of their assets will not release them from undergoing the same regulatory guidelines as other banks. (CRA examination)

This proposal could crush the American dream of “homeownership”. I work with low-income families. Through programs such as Homeownership and the FSS programs our agency tries to make this dream a reality. Financial institutions could, under this proposal, discriminate against this segment of our community.

The “softening” of the Community Reinvestment Act leaves to much authority in the hands of the Banking community as to lending and diminishes the examination safeguard for banking practices.