FDIC Federal Register Citations

Southwest Fair Housing Council

From: RICHARD RHEY [mailto:rrhey@prodigy.net]
Sent: Monday, April 05, 2004 12:39 PM
To: regs.comment@occ.treas.gov; regs.comment@federalreserve.gov; Comments; regs.comment@ots.treas.gov
Cc: jsilver@ncrc.org

Subject: Request for the withdrawal of changes to CRA regulations.

Dear Officials of Federal Bank and Thrift Agencies: As the Executive Director of the Southwest Fair Housing Council (SWFHC) based in Tucson and serving the entire State of Arizona I strongly request that you withdraw the present proposed changes to the Community Reinvestment Act (CRA). It is the opinion of SWFHC, which represents over 200 members across the State, that the proposed changes would reduce the rigor of CRA for a large number of banks and would weaken disincentives against predatory and abusive lending. SWFHC and other non-profit organizations like ourselves have worked arduously against abusive lending for the last several years and found the present provisions in CRA to be helpful in this work. Any weakening of these provisions would serve to undercut the advances we have made and frustrate our mission to thwart abusive lending in Arizona. Sincerely, Richard Rhey, Executive Director, Southwest Fair Housing Council. (SWFHC)