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: Isabel O'Donnell [mailto:isabelcisco@yahoo.com]
Sent: Saturday, October 09, 2004 12:08 AM
To: Comments
Subject: CRA, and RIN 3064-AC50


Mr. Robert Feldman
Executive Secretary
Attention Comments/Legal ESS
Federal Deposit Insurance Corp.
550 17th Street NW
Washington DC, 20429-9990

Re: RIN 3064-AC50

Dear Mr. Feldman;

The purpose of this letter is to express opposition to your proposal to significantly weaken the Community Reinvestment Act. You are proposing reduced CRA obligations for banks between $250million and $1 billion in assets. The reduced requirements would include modification of testing requirements on the number of investments and services in low and moderate-income areas. The second would allow mid sized banks to reduce their community development activities.

This ruling would apply to all locally headquartered banks in San Diego. It would only exclude the very large national banks. It would create an unequal playing field in the banking industry in this region. It would allow for market domination in major geographical areas of the County for specific products and services. It would exclude ethnic and lower income residents from basic banking services and thereby be in direct violation of the federal Community Reinvestment Act and quite possibly the Fair Housing Act.

We urge you to rescind your intent to reduce CRA related policies toward smaller banks.

Sincerely

Isabel E. O’Donnell


Last Updated 10/27/2004 regs@fdic.gov

Last Updated: August 4, 2024