FDIC Federal Register Citations
Community
Services of Arizona
From: jeffhale@mailup.net [mailto:jeffhale@mailup.net]
Sent: Thursday, October 14, 2004 1:42 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
10/14/04 1:42:06 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,
Community Services of Arizona, 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
20
years, Community Services of Arizona has built or rehabilitated over
2900
apartmetns and homes and helped to create hundreds of 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,
Jeff Hale
Community Services of Arizona
Phoenix, AZ 85048
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