FDIC Federal Register Citations

Community Services of Arizona

From: jeffhale@mailup.net [mailto:jeffhale@mailup.net]
Sent: Thursday, October 14, 2004 1:42 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

10/14/04 1:42:06 PM

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,
Community Services of Arizona, 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 Community Reinvestment Act is a critical component of our community’s
affordable housing and community development solutions. For the past 20
years, Community Services of Arizona has built or rehabilitated over 2900
apartmetns and homes and helped to create hundreds of jobs, improving the
lives of low- and moderate-income families in our community. Without
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 withdraw its
proposed rule Sincerely,

Jeff Hale
Community Services of Arizona
Phoenix, AZ 85048