Federal Deposit
Insurance Corporation

From: John [mailto:jkramer@gfdevelopment.org]
Sent: Tuesday, October 19, 2004 3:14 PM
To: Comments
Subject: SPAM::Community Reinvestment -- RIN 3064-AC50

Changing the CRA program would be a severe mistake for rural states. It is the only thing that keeps the big bank systems from draining our deposits out of state where they can get a better return ant less risk. This is to the big bank advantage but it has a negative effect on the rural economy’s where capital is so difficult to acquire The rates become more completive in the urban markets and less completive in the rural markets. It is already difficult to convince the major banks to invest back into communities where they are taking large deposits from with CRA it would be impossible without it. In some communities which have only big banks the decisions on loans are made hundreds of miles from the community by people who have no community involvement or in most case care little for the future of the rural area. My suggestion would be to tighten the CRA program not weaken it.