FDIC Federal Register Citations

From: McDonald III, John T. [mailto:mayor@ci.cohoes.ny.us]
Sent: Tuesday, October 19, 2004 12:44 AM
To: Comments
Cc: rngwiri@nahro.org; bevsigno@nycap.rr.com; Tremblay, Ed; charles.diamond@mail.house.gov; ken_mackintosh@clinton.senate.gov
Subject: RIN 3064-AC50 Community Reinvestment Act Proposals

Dear Sirs:
It is with great dissatisfaction that I write in opposition to the raising of the thresholds for the financial institutions involved with the Community Reinvestment Act (CRA). This proposal, which raises the asset threshold from $250 million to $1 billion is inappropriate at this time and is in my eyes a plan to only benefit said financial institutions. Language is also included to remove the requirements of the examination on the investment and service elements and instead make them options under the lending test. This is definitely a play towards the larger financial institutions and a play away from the communities that would have benefited from the program.
I ask that you take this comments under consideration as a decision is being made.

Sincerely,
John T. McDonald III
Mayor
City of Cohoes
Cohoes, NY