FDIC Federal Register Citations

From: Valerie F. Leonard [mailto:valeriefleonard@msn.com]
Sent: Monday, September 20, 2004 6:30 PM
To: Comments
Subject:

I oppose the FDIC's proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act. I understand that this requirement could result in only 6% of the banks in the country being required to complete the report. As a resident and business owner in North Lawndale, I am all too familiar with the effects of redlining and predatory lending practices in the community. It is my belief that a significant number of North Lawndale residents get financial services from lending institutions that would fall below the $250 million threshold. If left to their own devices, many of these institutions would not would not invest in the community. We would return to the days of more overt redlining and increase our already heavy reliance upon currency exchanges and predatory lenders.

Valerie F. Leonard
Community Development Consultant