Just to be more precise about the proposed Communi...

2004-12-21T22:28:00.000-06:00

Just to be more precise about the proposed Community Reinvestment Act (CRA) policy changes. Small banks (which used to be those smaller than $250 million in assets) have simpler CRA examinations than large banks. There are four bank regulators who each deal with different groups of financial institutions. Last fall the OTS unilaterally decided to raise the small bank threshold to $1 billion in assets. The FDIC followed suit, but they at least had the decency to ask for public comments about their proposed changes which also included some tinkering with the exam for the group of banks between $250 million and $1 billion.

Immediately following the election the OTS proposed a dramatic easing of CRA examinations for all the thrifts which they regulate. This proposal is still open for comment. You can comment to the OTS by adding your own tweaks, your name and contact info and email it to the OTS at regs.comments@ots.treas.gov

Regulation Comments
Chief Counsel's Office
Office of Thrift Supervision
1700 G St. NW
Washington, DC 20552

Attention: No. 2004-53 & 54

To Whom it May Concern:

As a concerned citizen I am very opposed to this proposed rulemaking. The Community Reinvestment Act has been an invaluable tool for getting more loans, services and investments into low and moderate income neighborhoods. I urge you to withdraw this proposal which weakens the CRA exam for all thrifts.

Sincerely,
Mad And Ugly Mothers Against Usury
123 Main Street
Grundy Center, IA 51234
563-987-6543

You may think that this kind of form letter is useless, however when the FDIC proposed weakening of CRA several months back and they received about 12,000 letters, half from consumers - half from banks. Virtually all the bank letters were the same form letter generated from their trade association. They all got counted as "support" for the FDIC position.

If you want to see a more sophisticated analysis the National Community Reinvestment Coalition has one on their web page.

I'm new to your blog and wanted to thank you for p...

2004-12-20T12:25:00.000-06:00

I'm new to your blog and wanted to thank you for posting this story. I had no idea this policy change was in the works. I'm so disheartened, but will write my congressman to let him know my concerns.

I also like the name of your blog. A good reminder that mainstream Baptist's are still alive and have a voice. I'm still reeling from the SBC fundamentalist takeover which impacted me profoundly during the late 80s and 90s. I still believe in the value of church, but I'm one of the "walking wounded" or perhaps better said collateral damage.

This is an important story and I am glad you broug...

2004-12-20T08:44:00.000-06:00

This is an important story and I am glad you brought it to our attention.

Comments on Mainstream Baptist: Better Off in 2004 ?

Just to be more precise about the proposed Communi...

I'm new to your blog and wanted to thank you for p...

This is an important story and I am glad you broug...