Federal Deposit
Insurance Corporation

From: FDAsh33@aol.com [mailto:FDAsh33@aol.com]
Sent: Tuesday, September 21, 2004 11:27 AM
To: Comments
Cc: bethany_sanchez@hotmail.com
Subject: The weakening of CRA

September 21, 2004

Dear Mr. Feldman:

I am a concerned citizen who also works for a nonprofit organization involved in housing and community development. I am strongly opposed to the FDIC's proposal to significantly weaken the Community Reinvestment Act (CRA). The FDIC's proposal will result in significantly fewer home and small business loans to low and moderate income borrowers and significantly fewer community development loans and investments in low and moderate income communities.

In addition, the proposal would allow banks to 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, these proposals will result in significantly fewer loans, investments, and branches in low and moderate income communities. Please withdraw this harmful proposal.

Sincerely,

Felita Daniels Ashley
Milwaukee, WI 53210