FDIC Federal Register Citations

From: gasbuc@optonline.net [mailto:gasbuc@optonline.net]
Sent: Thursday, October 14, 2004 2:57 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50

Dear Mr. Feldman:

I am writing to request that you to withdraw your proposed changes to the Community Reinvestment Act (CRA) regulations. My organization, Bronx Resident, knows firsthand that the CRA has been instrumental in increasing homeownership, boosting economic development, and expanding small businesses in the nation’s low- and moderate-income communities.

The Community Reinvestment Act is a critical component of our community’s affordable housing and community development solutions. I have witnessed the rebuilding of the Bronx due in no small part to the Community Reinvestment Act. Without strong support from the banks, this work would not have been possible. Without a strong CRA, some if not all of that support would not have been there.

The proposed FDIC rule would exempt many of our community’s key financial partners from the effective and productive requirements currently in place. We oppose any increase to the threshold of what is considered to be a small bank,and we urge the FDIC withdraw its proposed rule Sincerely,

Jim Buckley
Bronx Resident
3635 Johnson Avenue
Bronx, NY 10463