CRA ALERT!!!!!!!!!!!!

DATE: May 1, 1998
TO: Friends of Community Reinvestment
FROM: John Taylor and Josh Silver, National Community Reinvestment Coalition
(202-628-8866)

ALERT!!!!!!! AMENDMENTS TO SENATE CREDIT UNION BILL THREATEN CRA

Next week (as early as Wednesday morning, May 6th) the Senate will consider
the senate version of HR 1151, (the credit union bill). Senator Shelby (R-AL)
has threatened to add amendments that would take away the Kennedy Amendment,
which applies CRA-type regulation to credit unions. Shelby will also attempt
add another amendment that would exempt small banks from CRA. (Senators
Connie Mack (R-FL) and Lauch Faircloth (R-NC) also support the amendments).
THESE AMENDMENTS MUST BE STOPPED. YOU CAN HELP. Please call or visit your
senators to let them know that these attacks on CRA are UNACCEPTABLE. Senator
Carol Mosely-Braun has vowed to filibuster any attempt to pass the CRA
exemption amendment. Also, President Clinton may veto the credit union bill
altogether if the CRA protections are removed.

A FILIBUSTER NEEDS AT LEAST 40 SENATORS. SO ALL COMMUNITY ORGANIZATIONS
SHOULD CONTACT THEIR SENATORS. YOU CAN REACH YOUR SENATORS BY CALLING THE
CAPITOL SWITCHBOARD AT 202-224-2131

SAVE THE CREDIT UNION BILL. SAVE CRA. TELL YOUR SENATORS TO SAY NO TO THE
SHELBY AMENDMENTS. CONTACT CRA-FRIENDLY SENATORS AND LET THEM KNOW THAT WE’RE
FIGHTING!

IF YOU HAVE ANY QUESTIONS, PLEASE CALL JOSH SILVER OR LOU GREEN AT
202-628-8866.


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