FDIC Federal Register Citations

Druid Heights Community Development Corporation

From: jacquelyn d cornish [mailto:dheights@smart.net]
Sent: Saturday, September 18, 2004 3:15 PM
To: Comments
Subject: CRA letter to FDIC

September 17, 2004

Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429

RE: RIN 3064-AC50

Dear Mr. Feldman:

I am writing to request that you to withdraw your proposed changes to the Community Reinvestment Act (CRA) regulations. My organization, Druid Heights Community Development Corporation, knows firsthand that the CRA has been instrumental in increasing homeownership, boosting economic development, and expanding small businesses in the nation’s low- and moderate-income communities.

The Community Reinvestment Act is a critical component of our community’s affordable housing and community development solutions. For the past 16 years, Druid Heights Community Development Corporation has built over one hundred homes and helped to educate more than 1,500 of low- and moderate-income families in our community. Without strong support from our financial institution partners, this work would not have been possible.

The proposed FDIC rule would exempt many of our community’s key financial partners from the effective and productive requirements currently in place. We oppose any increase to the threshold of what is considered to be a small bank, and we urge the FDIC to withdraw its proposed rule.

Sincerely,

Jacquelyn D. Cornish
Executive Director
Druid Heights Community Development Corporation