FDIC Federal Register Citations
INCREASE CDC
From: increasecdc@increasecdc.org [mailto:increasecdc@increasecdc.org]
Sent: Thursday, October 14, 2004 3:56 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
10/14/04 3:55:49 PM
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50
Dear Mr. Feldman:
I am writing to request that you to withdraw your proposed changes to
the Community Reinvestment Act (CRA) regulations. My organization,
INCREASE Community Development Corp, knows firsthand that the CRA has been
instrumental in increasing homeownership, boosting economic development, and
expanding small businesses in the nation’s low- and moderate-income
communities.
The Community Reinvestment Act
is a critical component of our community’s
affordable housing and community development solutions. For the past five
years, INCREASE CDC has trained over 100 aspiring entrepreneurs to start
their own business and helped to create 32 jobs, improving the lives of
low- and moderate-income families in our community. Without strong support
from our financial institution partners, this work would not have been
possible.
The proposed FDIC rule would exempt
many of our community’s key
financial partners from the effective and productive requirements
currently in place. We oppose any increase to the threshold of what
is considered to be a small bank,and we urge the FDIC withdraw its
proposed rule Sincerely,
William J. Carter
INCREASE Community Development Corp
3146 Agler Road
Columbus, OH 43219
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