COMMUNITY ACTION RESOURCE AND DEVELOPMENT, INC.
From: Jessica Marrujo [mailto:jmarrujo@cardcaa.org]
Sent: Tuesday, April 06, 2004 11:50 AM
To: regs.comments@ots.treas.gov; Comments; regs.comments@federalreserve.gov;
regs.comments@occ.treas.gov
Subject: Proposed Changes to CRA Regulations
April 6, 2004
Docket No. 04-06
Communications Division
Public Information Room, Mailstop 1-5
Office of the Comptroller of the Currency
250 E St. SW,
Washington 20219
Docket No. R-1181
Jennifer J. Johnson
Secretary
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, NW
Washington DC 20551
Robert E. Feldman
Executive Secretary
Attention: Comments
Federal Deposit Insurance Corporation
550 17th St NW
Washington DC 20429
Regulation Comments, Attention: No. 2004-04
Chief Counsel¹s Office
Office of Thrift Supervision
1700 G Street NW
Washington DC 20552
Dear Officials of Federal Bank and Thrift Agencies:
As a member of the National Community Reinvestment Coalition, Community
Action Resource and Development, Inc., (CARD, Inc.) urges you to
withdraw the proposed changes to the Community Reinvestment Act (CRA)
regulations. CRA has been instrumental in increasing access to homeownership,
boosting economic development, and expanding small businesses in
the low- and moderate-income communities we serve. Your proposed
changes are contrary to the CRA statute because they will halt the
progress made in community reinvestment.
The proposed CRA changes will prevent the goals of improving the
economic status of minority homeowners and also change would make
easier predatory lending and reduce the ability of the public to
hold financial institutions accountable for compliance with consumer
protection laws.
CRA is vital to community-based organizations and the population
we serve. Your attention to this critical matter would be greatly
appreciated.
Sincerely,
Georgene Zachary
Executive Director
C.A.R.D., Inc.
P. O. Box 947
Claremore, OK 74018
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