Federal Deposit
Insurance Corporation

From: bbsample@ix.netcom.com [mailto:bbsample@ix.netcom.com]
Sent: Monday, October 18, 2004 6:17 PM
To: Comments
Subject: Save the Community Reinvestment Act

Dear FDIC,

Mr. Feldman:

I can't believe that the FDIC is considering watering down the Community Reinvestment Act (CRA)requirements that banks continue to serve low income communities. The CRA has been the main incentive for banks to continue serving their "less profitable" communities. Without it, they will surely abandon those communities in favor of "more profitable" areas.

For shame! We need to strenthen CRA, not weaken it.

I am very concerned that the proposed Federal Deposit Insurance Corporation (FDIC) rule would be harmful to the community in which I live and hundreds of towns, cities and rural areas across the United States.

In the new watered-down process for mid-size banks, FDIC would allow these financial institutions to pick and choose which community development activities they will undertake. Right now, these banks must make community development loans, investments, and services. Your proposed test allows banks to choose only one of the three activities. The result will be less community development activity were I live. That will mean fewer jobs, fewer homes and fewer community services.

As I understand it, the Community Reinvestment Act was made law to require lenders to meet community needs. Your rule proposal flies directly in the face of this requirement. It would harm my community, the quality of my life and tens of thousands of Americans like me. I urge you in the strongest possible terms to drop this hurtful proposed rule change.

Bob Sample

2268 Birch Street

Denver, Colorado
80207