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Federal Register Publications

FDIC Federal Register Citations



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FDIC Federal Register Citations

PORTLAND HOUSING CENTER

From: PEG MALLOY [mailto:pegmalloy1@msn.com]
Sent: Friday, October 01, 2004 7:29 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

I believe raising the asset threshold for small banks to $1 billion would severely undermine partnerships that community based organizations in the NeighborWorks Network have developed with banks. Banks are vital partners in the work of NeighborWorks Organizations and the incentive provided by CRA has been instrumental in building and maintaining these partnerships. CRA provides an incentive for financial institutions to reach out and develop relationship with NeighborWorks Organizations and is a critical force in keeping banks committed to providing services and products designed specifically for low and moderate income consumers. While some banks might continue to serve low and moderate income markets without the incentive of CRA, I firmly believe that most institutions would not.

Peg Malloy
Portland Housing Center
Portland, Oregon
NeighborWorks Chartered Member
Last Updated 10/09/2004 regs@fdic.gov

Last Updated: August 4, 2024