FDIC Federal Register Citations

Mutual Housing Association of South Central Connecticut

From: Lee [mailto:Lee@mutualhousing.net]
Sent: Monday, October 18, 2004 10:58 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

To whom it may concern:

Every day my colleagues and I are in contact with low and moderate income families who are struggling to make ends meet. Some of the people that we interact with are fortunate enough to live in one of our units and thus they are somewhat sheltered from the market forces that impact their rent, a major expense for these families, most are not so lucky.

The FDIC's proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act will make it harder to continue to develop affordably priced housing for families in the low and moderate income levels. This change will reduce lending and investment that helps families who are the backbone of the American economy, low and moderate income working families. For this reason we OPPOSE this change and urge that the current policy be kept in place.

Thank you

Lee Cruz
Director of Community Development
Mutual Housing Association
of South Central Connecticut