FDIC Federal Register Citations

MERCER ALLIANCE TO END HOMELESSNESS

From: MaryEllen Marino
Sent: Monday, August 30, 2004 11:29 AM
To: Comments
Subject: Oppose removing small banks

The proposal to change the definition for coverage under the Communty Reinvestment Act is a mistake and endangers the development of affordable housing and development that will assist low income people and areas.

The definition for requirement to meet CRA standards should remain at $250 million in assets and not increased to $1 billion. It is just as important to require smaller local banks to take responsibility for their community and report as it is for the larger ones.

We are in an area where there are so many factors opposing development that all incentives must be retained. Our county continues with much of the rest of the country to expand the gap between rich and poor in housing – the CRA is one way to help reverse this trend.

Strengthen not water down the effects of CRA.
Mary Ellen Marino