Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Federal Register Publications

FDIC Federal Register Citations



Home > Regulation & Examinations > Laws & Regulations > FDIC Federal Register Citations




FDIC Federal Register Citations

From: michael.groen@mu.edu [mailto:michael.groen@mu.edu]
Sent: Wednesday, October 20, 2004 2:32 PM
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 Mr. Feldman: As one who spends a great deal of time in underdeveloped areas in the Middle East, I am keenly aware of the debilitating effects of low income and the lack of access to financial resources. A crucial distinction between the situations I see in these countries and the situation of similar folks in the U.S. is the vital ole played by CDFIs in revitalizing communities through affordable housing and small business startups. The Community Reinvestment Act has provided banks with an important incentive to work with CDFIs and provide vitally needed capital to struggling communities. I urge you to withdraw the FDIC’s rule proposal that would allow midsize banks to pursue only one of the three important community development activities they are now required to undertake: lending, investment, and services. I believe that this misguided rule would mean a devastating reduction in support for the essential work of CDFIs, resulting in fewer jobs, fewer affordable homes, and fewer community services. Yours Sincerely, Michael Groen Assistant Director of Campus International Programs Marquette University Michael Groen



Last Updated 11/15/2004 regs@fdic.gov

Last Updated: August 4, 2024