From: Tom Stone [mailto:tstone@mtpleasantnow.org]
Sent: Friday, October 15, 2004 4:50 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

I am Tom Stone, Executive Director for Mt. Pleasant NOW Development Corporation ("MPNDC"). My organization is located in a low-to-moderate income community in the city of Cleveland. As a CDC MPNDC has been working to revitalize and stabilize the community over the past 16 years. The Community Reinvestment Act as currently defined has played a major role in providing an incentive for financial institutions to make investments and loans in challenged communities. The job of revitalizing communities is not completed. We need CRA to remain unchanged.

I oppose the FDIC's proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act. This policy would reduce lending, investments and services in low-income communities.

Tom Stone