FDIC Federal Register Citations

Dear Mr. Feldman:

I am a concerned citizen strongly opposed to your proposal to significantly weaken the Community Reinvestment Act (CRA).

You propose much easier CRA requirements for banks between $500 million to $1 billion in assets. This proposal will result in much fewer home and small business loans to low- and moderate-income borrowers and much fewer community development loans and investments in low- and moderate-income communities.

In addition, you propose that banks can earn CRA points by financing community development projects that benefit affluent residents in rural areas, instead of low- and moderate-income consumers and communities in rural America. This is directly contrary to CRA$E2s focus on meeting credit needs of low- and moderate-income communities.

In sum, all of your proposals will result in much fewer loans, investments, and branches in low- and moderate-income
communities. Please withdraw your harmful proposal.
Sincerely,

Bernie du Breuil
Upper Valley Peace & Justice Group