Last October we asked you to help stop a proposal by the FDIC that would undermine the Community Reinvestment Act (CRA). More than 1,000 of you responded. The FDIC received more than 5,800 messages opposing its new proposal, which prompted it to extend the period for public comment by a month. A final ruling has not yet been issued.

Unfortunately, the CRA is under attack once again. The Office of Thrift Supervision has proposed changes to CRA regulations that would allow thrift institutions (savings and loans) with more than $1 billion in asset to pick and choose which community needs they will meet.

Although the CRA was intended to oppose redlining (the systematic denial of services to lower-income and minority communities), the new changes would allow thrifts to obtain CRA credits by financing community development in affluent neighborhoods rather than poor ones. In addition, when two thrifts merge, they would no longer be required to meet with community groups to discuss the impact on the community. More details are available from the National Community Reinvestment Coalition
How can you help? Please send the customizable letter below to demand that the Office of Thrift Supervision withdraw this destructive proposal. Your prompt action can make a difference!