FDIC Federal Register Citations

Housing Authority of Grant County

From: John Poling [mailto:jpoling@hagc.net]
Sent: Friday, September 17, 2004 1:37 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

The Housing Authority of Grant County in Washington State strongly
opposes the FDIC proposal to allow banks with under $1 billion in assets
to undergo a limited CRA exam. This would result in only 6% of the
FDIC-regulated banks undergoing the full CRA exam.

CRA, over the past few decades, has stimulated hundreds of millions in
affordable housing and community development efforts across the United
States. The proposed change would reverse years of progress made in
encouraging banks to be responsive to all segments of the communities
they serve. The change would harm low and moderate income communities
and would leave some states with no banks subject to a full CRA
examination. This would literally gut the congressional intent of the
Community Reinvestment Act.

John Poling, Executive Director
Housing Authority of Grant County