From: Richard Hutchinson [mailto:rhutchinson@thefarmersbank.net]
Sent: Friday, October 08, 2004 3:04 PM
To: Comments
Subject: RIN 3064-AC50 Community Reinvestment
As an independent community banker, any move to extend the simplified
exam to the $billion threshold will be appreciated. However, of equal
importance is the adoption of a uniform standard shared by banking and
thrift regulators. The growth of regulations and lack of uniformity
between regulatory agencies is straining small bank compliance
resources. Our industry is in dire need of regulatory relief.
Independent banks serve a critical economic role in the economy. Our
partnership with the small business sector accounts for two thirds of
all new jobs, 51% of GDP and twice the product innovation of large
corporations. Independent banks remain well poised to maintain their
firm record of meeting the wants, needs and desires of consumers and
small business. Our banks take the time to focus on long term customer
value. All of this is being diluted by regulatory burdens whose time and
cost are disproportionate and compromising of our mission to serve our
communities and their citizens.
Thank you for your time and this opportunity to express deeply held
concerns..
