From: Lisa Beck [mailto:Lisa_Beck@fsbmail.net]
Sent: Monday, September 13, 2004 5:08 PM
To: Comments
Subject: RIN3064-AC50
Robert E. Feldman, Executive Secretary
Attn: Comments/Executive Secretary Section
Federal Deposit Insurance Corporation
500 17th Street NW
Washington, DC 20429
RE: Community Reinvestment Act Proposal
RIN 3064-AC50
Dear Mr. Feldman:
I appreciate your requesting input concerning proposed changes in the Community
Reinvestment Act.
I have been a community banker for several years and recognize the need for
regulatory burden relief in institutions like mine. Banks are growing at record
rates and for many, the proposed $1 billion threshold will not be far off.
However, the relief provided to these institutions now is invaluable. Resources
saved could be allocated towards products and services that would benefit our
communities. Implementing additional community development criterion for banks
with asset levels between $250 million and $1 billion would, however, defeat
the purpose of this proposal. Resources thought to be saved would end up being
channeled right back into compliance efforts in order to meet these requirements.
I appreciate and support the intent of the Community Reinvestment Act and realize
it is of great importance to communities across the country. I do not feel,
as some of the other comment letters suggest, that these proposed changes would
undermine the intent of CRA. The Community Reinvestment Act is not being repealed
under these proposals. Financial institutions would still have a responsibility
under the regulation to support our communities.
