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FDIC Federal Register Citations

Cleveland Housing Network

From: kmonter@chnnet.com [mailto:kmonter@chnnet.com]
Sent: Friday, September 17, 2004 4:47 PM
To: Comments
Subject: Community Reinvestment - RIN 3064-AC50

17 September 2004

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

RE: RIN 3064-AC50

Dear Mr. Feldman:

I am writing to request that you to withdraw your proposed changes to the
Community Reinvestment Act (CRA) regulations. My organization, the
Cleveland Housing Network, knows firsthand that the CRA has been
instrumental in increasing homeownership, boosting economic development,
and expanding small businesses in the nation's low- and moderate-income
communities.

The Cleveland Housing Network, established in 1981, was founded to create a
citywide production system to achieve comprehensive community development
and cultivate strong, vibrant and economically viable neighborhoods. CHN's
mission is to develop a continuum of safe, energy efficient and affordable
housing and homeownership options for low and moderate-income Cleveland
families. CHN's housing development programs include the construction and
rehabilitation of 300 single-family homes each year, transitional and
permanent housing options for formerly homeless families, and a pilot
initiative to preserve the affordability of expiring, Section-8 assisted
multi-family housing. Over the past 23 years, CHN's programs have built
more than 3,000 homes, and have generated more than $250 million of capital
investments in Cleveland's neighborhoods. Simply put, the Community
Reinvestment Act has been the single most important cornerstone of our
track record. Without the strong support from our financial institution
partners, this work would not have been possible.

The proposed FDIC rule would exempt many of our community's key financial
partners from the effective and productive requirements currently in place.
We oppose any increase to the threshold of what is considered to be a small
bank, and we urge the FDIC to withdraw its proposed rule.


Kate Monter Durban
Assistant Director
The Cleveland Housing Network
2999 Payne Avenue, #306
Cleveland, OH



Last Updated 09/28/2004 regs@fdic.gov

Last Updated: August 4, 2024