From: Sherry Porrazzo
Sent: Friday, August 20, 2004 6:57 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
TO: The FDIC
Eden Housing is an established, active nonprofit affordable housing
developer (501-c-3). The Community Reinvestment Act is a very important
tool that enables us and our peer organizations to meet the need
for affordable housing and economic development in our communities.
We wholeheartedly oppose any increase in the definition of what
is considered to be a small bank. This proposed rule change would
exempt many of our and others' community partners from the effective
and productive requirements now in place. As federal and state
regulatory agencies chip away at community-supporting programs
and sources of funding, organizations dedicated to community building
find it more and more difficult to do our jobs. American communities
need every resource we have-and more, not fewer. We URGE the FDIC
to withdraw its proposed rule change. The consequences of not doing
so would be crippling to many communities.
Thank you
Eden Housing, Inc.
Sherry Porrazzo, Director of Fund Development