FDIC Federal Register Citations

Rural Opportunities, Inc.

From: John Wiltse
Sent: Wednesday, August 25, 2004 4:42 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

As a senior staff member with Rural Opportunities, Inc., a regional nonprofit community development organization, I have been involved with affordable housing development in rural areas of NY, NJ, PA, OH, MI, IN and Puerto Rico for the past 13 years . I have seen the positive impact of the Community Reinvestment Act on low income rural communities all across our service area. From access to mortgage and small business capital to financial institution support for critical programs like home buyer counseling, IDA programs, financial literacy and foreclosure prevention strategies, CRA has had a dramatic impact in increasing resources for low income communities. CRA is a critical component to our area’s affordable housing and community development solutions. I oppose any increase to the threshold of what is considered to be small bank. The proposed FDIC rule would exempt many of our community’s critical partners from the effective and productive requirements currently in place. I urge FDIC to withdraw its proposed rule. Thank you for allowing me to comment on this critical issue.

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John Wiltse
Rural Opportunities, Inc.
Housing & Economic Development