From: Corey Leon [mailto:cleon@jeffersoneast.org]
Sent: Thursday, September 16, 2004 3:39 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
It is vitally important to make mid-sized banks and financial
institutions to vigorously make loans, investments and services in
low-income communities. I am absolutely opposed to the FDIC's proposal
to allow banks with assets above $250 million to be examined as small
banks under the Community Reinvestment Act. Here in Detroit we can
barely keep the big banks invested in all deposit taking areas and many
mid-size banks have no presence in distressed areas. If it were not for
the Community Reinvestment requirements, poor areas like ours along
Jefferson Ave in Detroit would be stuck with high-fee check cashing
outlets only. It is very important to strengthen, not weaken, the
Community Reinvestment Act.
Corey Leon
Jefferson East Business Association
14628 East Jefferson
Detroit, MI 48215
