Federal Deposit
Insurance Corporation

From: George Smith [mailto:George.Smith@ci.fresno.ca.us]
Sent: Tuesday, October 19, 2004 2:23 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

Gentlemen,

This e-mail is written to express opposition to the proposed revisions in the Community Reinvestment Act (CRA).

As a former banker for more than 20 years who is now an economic developer, I can tell you that the CRA has had a very positive effect on the economies of cities large and small through out the nation. Without the CRA, IN ITS PRESENT FORM, access to capital would not have been possible for businesses that are relatively small in size, relatively new in longevity, and owned by entrepreneurs without deep pockets.

As a banker in Florida, the CRA ensured that the banks for which I was a lender paid attention to the needs of the entire market, not just affluent customers. As a banker in Washington and Oregon, the CRA, IN ITS PRESENT FORM, ensured that small rural portions of the market were not ignored, low income consumers were not excluded, and small businesses had access to the capital necessary to make their businesses grow and prosper so that they could create jobs.

The proposed changes to the CRA are a bad idea. They should NOT be adopted. Thank you for your time and consideration.

Sincerely,
George E. Smith

George E. Smith
Economic Development Analyst
City of Fresno
(559) 621-8357