FDIC Federal Register Citations

California Housing Partnership Corporation

From: Matt Schwartz
Sent: Monday, August 23, 2004 5:22 PM
To: Comments
Subject: Community Reinvestment Act Comments-- RIN 3064-AC50

To Whom It May Concern:

I am writing to you to express the the opposition of the California Housing Partnership to the proposed change in regulations that would raise the minimum asset standard for financial institutions to be covered by the Community Reinvestment Act. The Community Reinvestment Act is a critical resource in our state’s continuing struggle to meet our affordable housing needs. We oppose any increase to the asset threshold for determining what is considered to be a small bank . The proposed FDIC rule would exempt a number of our state’s banks from the effective and productive requirements currently in place. We urge FDIC to withdraw its proposed rule.

The California Housing Partnership Corporation was incorporated by the state legislature in 1988 as a private nonprofit 501(c)(3) public benefit corporation. The governor and respective leaders of the legislative bodies appoint the eight board of directors based on their professional qualifications and interests. The mission of the California Housing Partnership Corporation is to assist nonprofit organizations and government agencies to create, acquire, preserve and manage affordable housing for lower income households, while providing leadership on housing preservation policy and on affordable housing resource issues. CHPC is unique in combining transaction-based financial technical expertise with deep experience in affordable housing policy work. To date, CHPC has helped preserve and create more than 7,000 units of affordable housing in California and helped initiate and revise dozens of state, federal and local affordable housing laws. CHPC also provides various types of affordable housing finance training to nonprofit and government organizations across the state.

Thank you.
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Matt Schwartz, Executive Director
California Housing Partnership Corporation
369 Pine Street, Suite 300; S.F., CA 94104