From: Arnold Montgomery [mailto:AMontgomery@liscnet.org]
Sent: Thursday, September 16, 2004 3:53 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
Dear FDIC Commissioners:
I strongly 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.
I have worked in the field of community economic development for over
twenty years and I assure you that thousands of houses and numerous
community facility projects would never have been built in low income
and rural areas if there had been no CRA. This proposed size change
would result in a reduction of housing and community facility production
in low and moderate income areas throughout the country.
