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2022 Community Reinvestment Act 3064 Af81 C 440

Robert Rutkowski submitted a comment regarding the Community Reinvestment Act (CRA) revisions, urging federal regulators to address racial discrimination in bank lending. He emphasized the need for banks' CRA ratings to reflect their lending practices towards people of color and suggested that banks with poor ratings should be barred from merging. The comment was submitted ahead of the August 8, 2022 deadline for public input on the CRA updates.

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44 views1 page

2022 Community Reinvestment Act 3064 Af81 C 440

Robert Rutkowski submitted a comment regarding the Community Reinvestment Act (CRA) revisions, urging federal regulators to address racial discrimination in bank lending. He emphasized the need for banks' CRA ratings to reflect their lending practices towards people of color and suggested that banks with poor ratings should be barred from merging. The comment was submitted ahead of the August 8, 2022 deadline for public input on the CRA updates.

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Message Fro Robert Rutkowski Sent: 8/5/2022 7:21:23 PM To: jerome. powell@frb gov; regs.comments@ federalreserve.gov; [email protected]; Public Information [publicinfo@ fdic.gov]; Comments [[email protected]) cc: Keith Abouchar {keith [email protected]] Subject [EXTERNAL MESSAGE] Community Reinvestment Act, RIN 3064~AF81 Jerome Powell, chair. Board of Governors of the Federal Reserve System 20th Street and Constitution avenue N.W. washington, DC 20551 [email protected], regs. [email protected] Jelena Mcwillians, chair Federal Deposit Thsurance Corporation Public information center 3501 North Fairfax Drive Room €-1021 arlington, vA 22226 publicinfoafdic.gov, conments@fdic. gov Michael 3. Hsu, Comptroller. Office of the Comptroller of the currency (occ) Legislative and Regulatory Activities Division OCC Headquarters 400 7th street, SW washington, D.c. 20219 (202) 643-6800 E-mail: publicaffairs3¢occ.treas.gov Re: Community Reinvestment Act, RIN 3064—AF81 bear chairs: Federal regulators should address racial discrimination in bank Tending under the revisions to the rules implenenting the Community Reinvestment Act (CRA). The agencies requested connent by Aug Sth, 2022, as they update rules to implement the 1977 law. CRA author Senator william Proxmire (D-Wr) spoke eloquently about the discriminatory redlining that disenfranchised generations of would-be homebuyers of color, Yet currently, federal regulators do not assess whether banks make loans to people of color in their CRA ratings. This should be changed, The agencies. should hold regular public hearings on bank cra compliance when they review merger applications. Banks with Poor CRA ratings should be prevented from merging. Full letter: https: //mmy. citizen.ora/up-content/uploads/ Publi c-citizen-comment-on-CRA-August-2022-%x. pdf yours sincerely, Robert E. RUtKOnSKi Legislative correspondence Team 1705 Longworth House office Building washington oc 20515 office: (202) 225-4131 Fax: (202) 225-4300 keith, aboucharénat 1 .house.gov 2527 Faxon court Topeka, Kansas 65605-2086 p/e: 1'785 379-3671 E-mail: [email protected]

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