FDIC Federal Register Citations

Dear Gentleman at the FDIC,

CRA Laws need to remain in force. Please consider keeping them there.

I have been in my position as executive director of a small CDC in Sanford, NC for eight years. I cannot express enough the need for and the results of CRA laws on our community. Bankers who would not  consider loans to the low income people of our community when I began in 1997 are all responsive to the need of those previously underserved and to our nonprofit organization.

This investment in lower income communities has a significant effect on not only the individual families but the community as a whole. Imagine if we have help 40 families purchase their own homes, children have address that are not the "project". The children feel good about themselves, do better in school and are less likely to be a burden on society as they grow to be teen and young adults.

This letter is brief, I am busy with my work, but there is no way the Brick capital Community Development could have accomplished what we have without the help of the small banks in our town through their CRA products.

Attached is a list of our accomplishments. Please don't change the CRA Laws. Doing so will only widen the gap between people of wealth and the poor.

Kate Rumely, Executive Director
Brick Capital CDC
403 W Makepeace Street
Sanford, NC 27330
919-775-2300
919-774-6808