FDIC Federal Register Citations

From: dyoung@jeffnet.org [mailto:dyoung@jeffnet.org]
Sent: Wednesday, October 20, 2004 4:21 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 have been informed by one of my socially-responsible investment funds about the alarming proposal before you to reduce the number of required community reinvestment options to mid-sized banks. This is regressive and an act of bad faith towards communities where depositors live. I 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. I believe that this misguided rule would mean a devastating reduction in support for the essential work of CDFIs, resulting in fewer jobs, fewer affordable homes, and fewer community services. Yours Sincerely, David and Linda Young 747 Oak St. Ashland, OR 97520 David and Linda Young