FDIC Federal Register Citations

Cleveland Neighborhood Development Coalition

From: Mary Helen Petrus
Sent: Monday, August 23, 2004 4:34 PM
To: Comments
Subject: RIN number 3064-AC50

To whom it may concern:

This is to comment on recent proposals to raise the asset threshold for "small banks" from $250 million to $1 billion. If this proposed change becomes fact, investments in low and moderate income communities would plummet, as more banks would be subject to less stringent CRA exams.

The Community Reinvestment Act has been an extraordinarily important part of Cleveland's community and economic development efforts in recent years. Any increase to the threshold of what is considered to be a small bank would exempt many of our community's critical partners from the requirements currently in place that have produced very positive results for our city.

I urge FDIC to withdraw its proposed rule.

Sincerely,
Mary Helen Petrus
Director of Policy Development
Cleveland Neighborhood Development Coalition