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FDIC Federal Register Citations
From: jon.kimmel@westtown [mailto:jon.kimmel@westtown]
Sent: Wednesday, October 20, 2004 8:28 AM
To: Comments
Subject: RIN 3064-AC50
Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429
Dear Robert Feldman:
I am writing to you today because I think it's very important that financial
institutions play a key role in helping people in less privileged parts
of our country help themselves. The financial industry profits greatly
from all Americans. Unfortunately, this relationship is not always reciprocated.
One major way banks have made a very positive difference in our country
(and made plenty of money doing so) is through the community reinvestment
requirements. I am not a big fan of government telling businesses what
to do, but this one makes sense for every single American, rich or poor.
Please do not change the rules to allow midsize banks to pursue only
one of the three important community development activities they are
now required to undertake. All three - lending, investment, and services
- are vital to our economy.
The existing rules benefit everyone except the supergreedy. We are all
in this together, and you have the opportunity to prove it. Please don't
change the rules.
Jonathan Kimmel
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