From: Mari-Elen Sammon [Mari-Elen@wire-net.org]
Sent: Thursday, September 16, 2004 4:38 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
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.
Policies that will make it easier for banks to avoid lending in low
income communities like the one served by our organization will harm
investments in housing, retail and industrial development, and lead to a
vicious cycle of reduced tax base, reduced employment, and eroding
public services (safety, infrastructure, education, etc.).