Federal Deposit
Insurance Corporation

September 29, 2004

Mr. Robert E. Feldman Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW Washington, DC 20429

RE: RIN 3064-AC50

I am a concerned citizen strongly opposed to your proposal to significantly weaken the Community Reinvestment Act (CRA). You propose much easier CRA requirements for banks between $250 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 all FDIC-supervised 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 summary, your proposal to change the CRA regulation will result in much fewer loans, investments, and branches in low- and moderate-income communities. Please withdraw your harmful proposal.