From: Dawn Stanhope [mailto:Dawn@mnhs.net]
Sent: Thursday, September 16, 2004 12:54 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

Dear Mr. Feldman:

I am a concerned representative of Manchester Neighborhood Housing Services, Inc. and strongly opposed to your proposal to significantly weaken the Community Reinvestment Act (CRA). You propose much easier CRA requirements for banks between $500 million to $1 billion in assets. This proposal will result in much fewer home and small business loans to low- and moderate-income borrowers and much fewer community development loans and investments in low- and moderate-income communities. In addition, you propose that banks can earn CRA points by financing community development projects that benefit affluent residents in rural areas, instead of low- and moderate-income consumers and communities in rural America. This is directly contrary to CRA’s focus on meeting credit needs of low- and moderate-income communities. In sum, all of your proposals will result in much fewer loans, investments, and branches in low- and moderate-income communities. Please withdraw your harmful proposal.

Sincerely,

Dawn Stanhope
Deputy Director for Operations
Manchester NHS, Inc.
968 Elm Street
Manchester NH 03101
(603) 626-4663 ext.15
(603) 623-8011 (fax)
Email: dawn@mnhs.net