From: Michele Flynn [mailto:tnced@aol.com]
Sent: Tuesday, September 28, 2004 3:45 PM
To: Comments
Subject: SPAM::Oppose Efforts to Weaken CRA RIN number 3064-AC50

Michele Flynn
P.O. Box 23353
Nashville, TN 37206

September 28, 2004

Federal Deposit Insurance Commission

Dear Federal Deposit Insurance Commission:

Banks in the state of TN have only been partners with community development organizations because it is required under CRA to reinvest back into our communities. In a poor southern state like Tennessee, that has not chosen to invest in either affordable housing development or economic development for limited income individuals, the loss of this incentive for our banking partners will effectively stall our efforts to bring increased income and wealth to working poor individuals who jsut want to be able to buy a home, start a business and send their chidlren to college, just like everyone else. This proposed change would have a devastating effect on affordable housing and community development investment in our state, particulalry in the rural areas. Successful development must be targeted to lower income individuals and/or communities.This is one federal law which we can point directly to as leading to private investment in our communities. Please do not act to take it away-this next generation should not have to live with a further reduction in opportunities available to them because of their income. Having worked in the field of community development for over 20 years, I remember the time before CRA and I can attest that without it there is no incentive for banks to parnter as they are doing today. They do not see our customer, that is the lower income individual, as their customer. That is the reality. Do not make this change which will allow banks to turn their backs on this segment of the population. Look to the gains CRA has brought to our communities and then be courageous enough to hold firm.

Please rescind your proposal.

Sincerely,
Michele Flynn