Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ISS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429-9990.
Re: RIN 3064-AC50
Dear Mr. Feldman:
In 1977, Congress
enacted the CRA to encourage insured banks and thrifts to help
meet the credit needs of their entire communities,
including low- and moderate-income communities, consistent with safe
and sound lending practices. In the CRA, Congress found that regulated
financial institutions are required to demonstrate that their deposit
facilities serve the convenience and needs of the communities in
which
they are chartered to do business, and that the convenience and needs
of communities include the need for credit as well as deposit services.
The CRA has come to play an important role in improving access
to
credit among under-served rural and urban communities.
Small Banks located
in Rural Communities have not fulfilled their obligation to assist
low income ommunities. I strongly oppose the
proposed rule changing the Community Reinvestment Act regulations.
In my opinion, it will really undermine rural communities. Please
do not adopt this rule.
