Community Reinvestment in Texas 2003

March 31, 2003

The Honorable Rick Perry, Governor
The Honorable David Dewhurst, Lieutenant Governor
The Honorable Thomas R. Craddick, Speaker of the House
Members of the 78th Legislature

Fellow Texans:

This report provides an update of Community Reinvestment in Texas, which was prepared by the Texas Community Reinvestment Work Group in February 2001. This update reviews the Community Reinvestment Act. It also examines the status of small business, small farm, and community development lending, and state and local initiatives to obtain private capital from banks, insurance companies, and other entities for community development in Texas. It has been prepared in compliance with Chapter 395 of the Texas Finance Code.

This update was produced with assistance from the Texas Department of Banking, the Texas Department of Housing and Community Affairs, the Texas Department of Economic Development, and the Texas Department of Insurance. It also incorporates comments from federal agencies, community groups, industry representatives, and community stakeholders regarding the current status of community reinvestment in Texas.

I appreciate the cooperation of all of these organizations and individuals. Please let me know if I can be of further assistance. Thanks for all that you do for Texas.

Sincerely,

Carole Keeton Strayhorn
Texas Comptroller