From: Steven Pritchard [mailto:StevePritchard@InterConBank.com]
Sent: Friday, September 17, 2004 6:27 PM
To: Comments
Subject: Support for Raising the Small Institution CRA Exam Eligibility.
Steven Pritchard
5631 Broadway
San Antonio, Tx 78209
September 17, 2004
Robert E. Feldman
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429
Dear Robert Feldman:
I greatly appreciate the opportunity to comment on the FDIC’s
proposal to enlarge the number of banks that will be eligible for the
small institution Community Reinvestment Act (CRA) examination. My
bank’s assets total less than $1 billion and would be a direct
beneficiary of the additional relief provided by reducing the CRA
compliance burden. I strongly support this proposal.
Regulatory burden falls heaviest on community banks such as mine. We
are drowning in regulatory red-tape. The FDIC’s proposal is a major step
towards reducing the regulatory burden for community banks. While
community banks will still be examined under CRA for their record of
helping to meet the credit needs of their communities, this proposed
revision will eliminate the most problematic and burdensome elements of
the current CRA regulation for community banks.
I urge the FDIC Board to approve the proposed increase to $1 billion
in the size of the institutions eligible for the small bank CRA
examination. Thank you for taking my views into consideration.
Sincerely,
Steven J. Pritchard, President - InterContinental National Bank
210-283-4825
