FDIC Federal Register Citations

From: Mask, Russell [mailto:mask@covenant.edu]
Sent: Monday, October 18, 2004 11:39 AM
To: Comments
Subject: SPAM::Community Reinvestment -- RIN 3064-AC50

Dear Sir/Ma'am,

I STRONGLY oppose the FDIC's proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act. The CRA in its current form is one small step in reversing the decades of bank red-lining that limited financial services for low-income and particularly minority communities in our country.

Changes to this policy would reduce lending, investments and services in low-income communities and further cement systematic inequalities in our country. It would also likely INCREASE the prevalance of predatory lenders such as check-cashing shops, payday loan shops, title loan shops, etc.

Sincerely,

Russell P. Mask, Ph.D.
Covenant College
Lookout Mountain, GA