Domini Social Investments : Take Action Help Save the Community Reinvestment Act Please Act by October 20
Please act today to preserve one of the most important legal protections currently afforded to at-risk communities.
A new proposal by the FDIC would allow certain state-chartered banks to escape the requirements of the Community Reinvestment Act (CRA). Under this proposal, instead of having to pursue three community development activities — lending, investment, and services — each of these almost 900 banks will be able to pick just one.
What does this mean? These banks are currently required to invest in the communities from which they received deposits. Many of them use community development financial institutions (CDFIs), to fulfill this obligation. By lowering the standards and allowing banks to pick just one aspect of community development to support, they no longer have a strong reason to partner with CDFIs, which revitalize communities by supporting affordable housing and small business startups.
How can you help? Please send the customizable letter below to demand that the FDIC withdraw this destructive proposal. Your prompt action can make a difference!
You should consider the Domini Funds' investment objectives, risks, charges and expenses carefully before investing. View or order a copy of the Funds' current prospectus for more complete information on these and other topics. Please read the prospectus carefully before investing or sending money.
