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FW: HELP PRESERVE STRONG CRA

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  • Kirby Ung
    ... Rock, jazz, country, soul & more. Find the music you love on MSN Music!
    Message 1 of 1 , Oct 8, 2004
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      > Subject: HELP PRESERVE STRONG CRA
      >
      > Dear Friends:
      >
      > The impact of the Community Reinvestment Act (CRA) is in jeopardy.
      > You have probably heard that a proposed rule would lessen the tests given to
      > thousands of financial institutions to determine their record of lending,
      > servicing and investing in low income neighborhoods.  Now is not the time to
      > weaken the oversight of financial institutions in their obligations to meet
      > the credit needs of underserved areas.  We need you help and we need it now.
      >
      > NCRC has developed an extremely easy mechanism to get groups and individuals
      > to weigh in on the very critical issue of having the FDIC leave the
      > comprehensive CRA exam in place.
      >
      > You need only click on www.ncrc.org which will then show them a prompt to
      > contact the FDIC.  You need only click on "SAVE CRA. ACT NOW!" to submit a
      > letter to FDIC.  This cuts out all the cutting & pasting and extra emailing.
      > It takes all of 30 seconds to do...it couldn�t be easier.  Please share this
      > with any friends or relatives.  Numbers matter, they are counting the number
      > of consumer vs. bank comments on this.
      >
      > If the FDIC is successful in raising the small bank definition to $1 billion
      > (from $250 million) then woman and minority-owned business, affordable
      > housing initiatives, anti-predatory lending efforts will all be negatively
      > impacted.  If you haven�t sent in a letter, send it in now.  CDCs, CDFIs,
      > micro-enterprise orgs, NHSs, IDA programs, all those working to build wealth
      > in low-wealth neighborhoods will suffer the consequences of this change.  We
      > can not afford to lose the Service and Investment Tests or the comprehensive
      > Lending test.  These exams have proven themselves as motivators for bank
      > investment.
      >
      > If you have already sent a letter, get your friend to do so, get many
      > friends.  NCRC needs your help to preserve the integrity of CRA!
      >
      > Thanks for your help.
      > JT
      > John Taylor
      > President & CEO
      > National Community Reinvestment Coalition
      > 733 15th St., NW, Ste. 540
      > Washington, DC 20005
      > DC - 202/628-8866 Fax 202/628-9800
      > Boston - 617/327-7100
      >


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