Federal Deposit
Insurance Corporation

From: Victoria Bippart [mailto:vbippart@valley.net]
Sent: Monday, September 20, 2004 9:33 AM
To: Comments
Subject: RIN 3064-AC50

To whom it may concern,

I am opposed to the relaxation of CRA requirements for banks between $500 million to $1 billion in assets. We need to keep banks accountable to the low income sector of society, not make them easier to dismiss. You have seen "It's a Wonderful Life" haven't you? Please. Home and small business loans to low- and moderate-income borrowers as well as community development loans and investments in low- and moderate-income communities is an essential part of a good natured society. It is our obligation. 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,

vicky Bippart