FDIC Federal Register Citations

From: Robert Guarasci [mailto:rguarasci@njcdc.org]
Sent: Thursday, September 16, 2004 2:46 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

To Whom It May Concern:

I oppose the FDIC's proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act. This policy would reduce lending, investments and services in low-income communities like Paterson, New Jersey. Please remember that community organizations like ours don’t have the resources of all the banks who are inundating you with comments in favor of the change—but please understand that a change like this will be devastating and a huge step backwards for all of us who labor to rebuild neighborhoods in economically depressed areas.

Robert F. Guarasci
President
New Jersey Community Development Corporation
PO Box 6976
Paterson, NJ 07509