FDIC Federal Register Citations

From: Bethany&Rodney Sanchez [mailto:bethanyrodney@hotmail.com]
Sent: Thursday, September 16, 2004 6:04 PM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment

RE: RIN 3064-AC50, Community Reinvestment

Dear Mr. Feldman:

I am writing as a concerned citizen to express my strong opposition to the FDIC's proposal to significantly weaken the Community Reinvestment Act (CRA). I believe that the FDIC's proposal will result in significantly fewer home loans and small business loans to low and moderate income borrowers, and significantly fewer community development loans and
investments in low and moderate income communities.

I am concerned that the proposal would allow banks to earn CRA points by financing community development projects that benefit affluent residents in rural areas instead of low and moderate income consumers and communities. This is directly contrary to CRA’s focus on meeting the credit needs of low and moderate income communities.

In summary, the proposal will result in significantly fewer loans, investments, and branches in low and moderate income communities. Please withdraw this harmful proposal.

Sincerely,

Rodney Sanchez
2303 E. Belleview Place, #1
Milwaukee, WI 53211