FW: 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>
> Subject: HELP PRESERVE STRONG CRA
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