FDIC Federal Register Citations

From: Karen LaFrance [mailto:klaf@cox.net]
Sent: Tuesday, October 19, 2004 11:08 AM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50

Karen LaFrance
2216 East Christy Drive
Phoenix, AZ 85028

October 19, 2004

Federal Deposit Insurance Commission

Dear Federal Deposit Insurance Commission:

Dear Sirs/Madams: The present effort to weaken the Community Reinvestment
Act is wrong.

I have been in community development for 25 years and I remember the
almost entirely public sector "redevelopment " days. With CRA, those days
ended and private capital flowed judiciously with community group partners
into poor communities. Those investments represented the life savings of
working poor families combined with mortgages from banks and all helped to
stabilize neighborhoods. The new cities of the West now have the same
problems in older neighborhoods that cities of the East had 25 years ago.
Weakening CRA will hurt these cities and their older neighborhoods. These
policies which in essence stomp all over poor communiites where folks
either don't vote or don't vote Republican hurt EVERYBODY. Please rescind
your proposed rulings; I am opposed to weakening CRA.

Sincerely,

Karen LaFrance