FDIC Federal Register Citations

In a message dated 09/19/2004 8:23:06 AM Eastern Daylight Time, Kathleen.K.Shepherd@Dartmouth.EDU writes:

Dear Mr. Feldman:

I am a concerned citizen (or representative of a community group) strongly
opposed to your proposal to significantly weaken the Community
Reinvestment Act (CRA). You propose much easier CRA requirements for
banks between $500 million to $1 billion in assets. This proposal will
result in much fewer home and small business loans to low- and
moderate-income borrowers and much fewer community development loans and
investments in low- and moderate-income communities. In addition, you
propose that banks can earn CRA points by financing community development
projects that benefit affluent residents in rural areas, instead of low-
and moderate-income consumers and communities in rural America. This is
directly contrary to CRA$E2s focus on meeting credit needs of low- and
moderate-income communities. In sum, all of your proposals will result in
much fewer loans, investments, and branches in low- and moderate-income
communities. Please withdraw your harmful proposal.

Sincerely,