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Federal Register Publications

FDIC Federal Register Citations



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FDIC Federal Register Citations

MANCHESTER NEIGHBORHOOD HOUSING SERVICES

From: Felix Torres [mailto:Felix@mnhs.net]
Sent: Thursday, September 16, 2004 3:54 PM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment

Dear Mr. Feldman:

I am a concerned 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’s 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,

Felix M. Torres
Executive Director
Manchester Neighborhood Housing Services
968 Elm Street
Manchester, NH 03101
Voice: (603) 626-4663 ext. 17
Facsimile: (603) 623-8011
email: felix@mnhs.net

Last Updated 09/25/2004 regs@fdic.gov

Last Updated: August 4, 2024