From: Barb Owens [mailto:ahdi@qwest.net]
Sent: Wednesday, September 15, 2004 6:17 PM
To: Comments
Subject: Proposed changes to the CRA rule
Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ISS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429-9990.
Re: RIN 3064-AC50
I am writing to oppose the proposed rule changing the Community
Reinvestment Act, increasing the floor for serious CRA exams for banks.
My service area is western North Dakota, and my organization frequently
relies on local banks for loans to make our affordable housing projects
work. It is critical that we keep this incentive in place so that the
banks will finance deals like ours.
The CRA has been such an effective tool in bringing the financing
sector to the affordable housing table. I am afraid this change will
slow down production of affordable housing at a time when more and more
families are living in poverty. Please do not adopt this rule.