Federal Deposit
Insurance Corporation

From: Beatrice Ammann [mailto:beatriceammann@hotmail.com]
Sent: Tuesday, October 19, 2004 6:53 PM
To: Comments
Subject: RIN 3064-AC50 

October 19, 2004

Robert E. Feldman
Executive Secretary
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429-9990.
Re: RIN 3064-AC50

Dear Mr. Feldman:

The Hunter College Graduate Department of Urban Planning’s Fall 2004 Studio class strongly opposes the proposed rule changing the Community Reinvestment Act (CRA) regulations. In our opinion, it will greatly undermine all New York communities. Please do not adopt this rule.

Over the past ten years our Studio course has directly seen the benefits the CRA provides small community-based organizations. Communities that we have worked with throughout the five New York City boroughs have been able to plan for schools, community centers, affordable housing, homes for the elderly, youth centers, and drug rehab centers with the assistance of the CRA. If the CRA did not thoroughly examine all banks, it is doubtful that adequate funding would be allocated to meet their needs. Through our work with nonprofit community organizations we can attest that there is great need for financial support.

We 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.

Respectfully,

The Fall 2004 Studio:
Jen Badali, Beatrice Ammann, Andrew Kirchner, Becca Kelly, Evan Mason, Noah Bernstein, Meira Berkhower, Chris Andrichak, Todd Seidel, Jeffrey Lee
Faculty Advisors Alice Blank & Professor Bill Milczarski

Hunter College
Graduate Department of Urban Planning

695 Park Avenue
West Building, 1611
New York City, New York 10021