From: Veda Moretti [mailto:vedam@sahg.org]
Sent: Thursday, September 16, 2004 1:47 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
To Whom It May Concern:
I am the Finance Manager at St. Andrew's Housing Group, a developer
and manager of affordable housing in East King County in the State of
Washington. I oppose the FDIC's proposal to allow banks with assets
under $1 billion to be examined as small banks under the CRA. There is
an important public policy issue which resulted in the Act's initial
passage, and this proposed policy change would significantly reduce the
impact the Act was originally intended to have. This policy would
substantially reduce lending, investments and services in low-income
communities, and may result in some states having no banks at all being
examined as large banks. Please reconsider this policy change and leave
the current policies in effect.
