FDIC Federal Register Citations

From: Stephanie Forbes [mailto:sforbes@liscnet.org]
Sent: Monday, October 18, 2004 2:16 PM
To: Comments
Subject: Comments re CRA

Dear FDIC:
Bay Area LISC, a program of the Local Initiatives Support Corporation, has been extensively involved with a variety of community revitalization projects over the past two decades. Small banks and the CRA have been integral to the community-based rebuilding efforts in the San Francisco Bay Area's most distressed communities. Based on our experience, it is clear that your proposed changes to CRA would have a detrimental impact on these neighborhood efforts since this policy would reduce lending, investments, and services in low-income communities. Simply put, we emphatically oppose the FDIC's proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act.

Thank you for your consideration,

Stephanie R. Forbes
Director
BAY AREA Local Initiatives Corporation

Stephanie Forbes
Director
Bay Area LISC
369 Pine St., Ste. 350
San Francisco, CA 94104