FDIC Federal Register Citations

Rural Health Consultants

From: Sheldon Weisgrau [mailto:sweisgrau@ruralhealthconsultants.com]
Sent: Wednesday, September 15, 2004 10:57 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

Dear Mr. Feldman,

I am writing in opposition to the proposed changes to the Community Reinvestment Act. The CRA has been one of the most successful community revitalization programs in the nation's history, allowing the development of affordable housing and other projects that would not have been possible otherwise. Other than CRA, there are few other options available to the program's main beneficiaries, the poor, elderly, disabled and other vulnerable members of society.

The change in the definition of a small bank will permit virtually all banks that serve small towns and rural areas to back away from their community development obligations, leaving consumers with fewer choices and communities no options for financing needed development projects. The proposed changes are contrary to Congressional intent, benefiting only large financial institutions, not the communities targeted by the program. As a health care professional, I have seen CRA's positive impact on the development of rural medical clinics and other services that would not have been possible without the program. The proposed changes to CRA will make the already difficult task of providing access to health care services even harder for rural and underserved communities. I urge you to reconsider these changes.

Thank you for the opportunity to provide these comments.

Sheldon Weisgrau, Senior Partner
Rural Health Consultants
2500 West Sixth Street, Suite H
Lawrence, Kansas