ALERT - Credit Union Bill Could Help or Hurt CRA!

July 9, 1997


TO: Friends of Community Reinvestment



FROM: Hubert Van Tol, Irvin Henderson, John Taylor



RE: Credit Union Bill Next Week - Help or Hurt CRA




Dear Friends:


The National Community Reinvestment Coalition (NCRC) received a call today
from senior Democrat staff of the Senate Banking Committee. The credit
union bill is scheduled be on the floor of the Senate next Thursday or
Friday. It currently has a CRA-like requirement for credit unions.

Senator Phil Gramm (R-TX) vows to introduce an amendment to strike the
CRA-like provision. Senator Richard Shelby (R-AL) promises to introduce an
amendment that would exempt all small banks (most of the banks in the
country) from CRA! Senator Carol Moseley-Braun promises to filibuster if
anti-CRA amendments are introduced.

ACTION NEEDED: Commmunity groups in Texas and Alabama need to flood Senator
Shelby and Gramm's offices with calls and letters. We need 41 Senators to
sustain a filibuster. All community groups across the country need to
contact their Democratic Senators so that we can ensure a successful
filibuster!

Please let us know what how your Senators responded to your concerns!

If you have any questions, contact Josh Silver or Lou Green at NCRC on
202-628-8866.



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