Financial services companies have long been characterized as opposed to investing in their companies' own communities. In my experience, this has not remotely been the case. I support community reinvestment and am delighted that the Financial Services Modernization Act, which President Clinton recently signed into law, will give a shot in the arm to investment of capital into our communities.
Nor am I alone in supporting community reinvestment. I know of no major bank or banking association that opposes it.