FDIC Federal Register Citations

From: jgriffith@newmoa.org [mailto:jgriffith@newmoa.org]
Sent: Wednesday, October 20, 2004 4:34 PM
To: Comments
Subject: RIN 3064-AC50

Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429

Dear Mr. Feldman:

I am writing to urge you to withdraw the FDIC’s rule proposal that would allow midsize banks to pursue only one of the three important community development activities they are now required to undertake: lending, investment, and services. The Community Reinvestment Act has provided banks with an important incentive to provide vitally needed capital to struggling communities. I believe that without the requirement to undertake all three activities, banks will not continue to improve struggling communities. Small/rural/disadvantaged communities will suffer fewer jobs, fewer affordable homes, and fewer community services.

Please stop this now! Keep the Community Reinvestment Act requirement to provide lending, investment AND services!

Yours Sincerely,

Jennifer Griffith