Federal Deposit
Insurance Corporation

From: Chin, John [mailto:jchin@chinatown-pcdc.com]
Sent: Wednesday, October 20, 2004 11:42 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

Dear FDIC Representative:

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.

The Philadelphia Chinatown Development Corporation (PCDC) has been working for 38 years to promote, protect, and preserve the Chinatown, Philadelphia community, a low-income community that serves immigrants. It is becoming more difficult to carryout our mission of providing affordable housing, community development, and housing related services to the community. The economy is doing poorly, and corporations have reduced the amount of community contributions. Banks are merging and this reduces the pool of financial institutions that help support small community CDCs like PCDC. We need to encourage more investment in low-income communities and this proposal will do the opposite.

Sincerely,
John W. Chin
Executive Director
Philadelphia Chinatown Development Corporation
301 North 9th Street
Philadelphia, PA 19107
Tel: 215 922-2156