FDIC Federal Register Citations

Dear Mr. Feldman:

I am a representative of the Scott County Housing Council and 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 fewer home and small business loans to low- and moderate-income borrowers and 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 CRA¹s focus on meeting credit needs of low- and moderate-income communities. In sum, this proposal will result in fewer loans, investments, and branches in low- and moderate-income communities. Please withdraw your proposal.

Sincerely,

Bruce Berger
Board Member, Scott County Housing Council
c/o City of Davenport
226 W. 4th Street
Davenport, Iowa 52801