FDIC Federal Register Citations

From: Dennis Brunelle [mailto:sceocexe@nycap.rr.com]
Sent: Thursday, September 16, 2004 5:05 PM
To: Comments
Cc: Dan Maskin
Subject: CRA Rule Changes

September 16, 2004

Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ISS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429-9990.

Re: RIN 3064-AC50

Gentlemen Re RIN 3064-AC50:

PLEASE READ THIS COMMENT……

We are a small non-profit Community Action Agency in Saratoga Springs, NY. We tried unsuccessfully to develop our capacity for community development since 1970. We finally sought help from the Adirondack Trust Company, a local bank supportive of current CRA rules and programs helping people to help themselves. This bank helped our agency with loan packages, volunteer resources, and technical support. We now have our own building, we constructed a homeless shelter, a storage facility, and we have developed many new services, which effectively pull people out of poverty.

The CRA program works. I will be happy to verbally testify to this effect at a public hearing. Also, I am only one of hundreds of Community Action Agencies across the country who believe the CRA regulations should remain unchanged.

I strongly oppose the proposed rule changing the Community Reinvestment Act regulations. In my opinion, it will really undermine the community of Saratoga County as well as other rural communities. Please do not adopt this rule.

Respectfully,

Dennis Brunelle LMSW
Executive Director
Saratoga County Economic Opportunity Council
40 New Street, PO Box 5120
Saratoga Springs, NY 12866