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FDIC Federal Register Citations

Simpson County Development Foundation

From: Tim Coursey [mailto:courseyt@bellsouth.net]
Sent: Wednesday, October 20, 2004 11:22 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

The FDIC proposal to remove CRA obligations from lending institutions is a terrible idea. This will make a bad situation worse in many rural communities, especially those that have been hit with huge manufacturing job losses in the past few years ( as we have). We rely on our local banks to invest in our local area. If they are not required to do so, then we will see: 1) more job losses, 2) a decrease in new business start-ups, 3) small economic development organizations will go out of business as funding from banks is eliminated, and 4) a cease in lending for construction of low to moderate income housing . Please stop this proposal….it’s a bad idea from our standpoint.

Timothy P. Coursey, CEcD
Executive Director
Simpson County Development Foundation

 


Last Updated 11/16/2004 regs@fdic.gov

Last Updated: August 4, 2024