From: Anne Schaum [mailto:Anne@wire-net.org]
Sent: Thursday, September 16, 2004 2:43 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
Banks with assets above $250 million are not small, as proposed in
your 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 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.).
Anne Schaum
Westside Industrial Retention & Expansion Network
6516 Detroit Ave, Suite 3
Cleveland, OH 44102
Phone: (216) 631-7330, ext 101
Fax: (216) 651-5096
Web: www.wire-net.org
