FDIC Federal Register Citations

Unified Vailsburg Services Organization


September 8, 2004

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

RE: RIN 3064-AC-50

Dear Mr. Feldman:

As a member of the National Community Reinvestment Coalition Unified Vailsburg Services Organization (UVSO) urges you to withdraw your proposed changes to the Community Reinvestment Act (CRA) regulations.

CRA has been instrumental in increasing homeownership, boosting economic development, and expanding small businesses in the nation’s urban and rural, minority, immigrant, and low and moderate income communities. The proposed changes are contrary to the CRA statute and Congress’ intent because they will slow down, if not halt, the progress made in community investment.

UVSO humbly submits that it is a mistake to hold banks of different sizes to different CRA criteria, and to give banks community development options instead of requiring all banks to create, promulgate and measure useful loan, service and investment products in low and moderate income, urban and rural minority communities like Vailsburg.

Sincerely,

Robert M. Farley
Executive Director