Federal Deposit
Insurance Corporation

From: Madeline Boughter [mailto:Madeline.Boughter@verizon.net]
Sent: Monday, September 20, 2004 12:36 PM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment

Mr. Robert E. Feldman
Executive Secretary
Office of the Executive Secretary
Federal Deposit Insurance Corporation

Dear Mr. Feldman:

I am a member of Our Savior Lutheran Church in Hanover, NH and strongly oppose 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,

Madeline Boughter
Hanover, NH 03755