From: Robert Guarasci [mailto:rguarasci@njcdc.org]
Sent: Thursday, September 16, 2004 2:46 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
To Whom It May Concern:
I 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 like Paterson, New Jersey. Please remember that
community organizations like ours don’t have the resources of all the
banks who are inundating you with comments in favor of the change—but
please understand that a change like this will be devastating and a huge
step backwards for all of us who labor to rebuild neighborhoods in
economically depressed areas.
Robert F. Guarasci
President
New Jersey Community Development Corporation
PO Box 6976
Paterson, NJ 07509
