Federal Deposit
Insurance Corporation

John P. Kleiderer
1324 Euclid Street NW, #2
Washington, DC 20009

October 20, 2004

Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429
VIA FACSIMILE AND EMAIL

RE: RIN 3064-AC50

Dear Mr. Feldman:

I am a concerned citizen strongly opposed to your proposal to significantly weaken the Community Reinvestment Act (CRA).

Your proposal, which eases CRA requirements for banks between $250 million to $1 billion in assets, will result in fewer home and small business loans to low- and moderate-income borrowers and far fewer community development loans and investments in low- and moderate-income communities. In addition, you propose that all FDIC-supervised banks can earn CRA points by financing community development projects that benefit affluent residents in rural areas, instead of low- and moderate-income consumers and communities in rural America. This is in direct contrast to CRA’s focus on meeting the credit needs of low- and moderate-income communities.

In sum, your proposal to change the CRA regulation will result in much fewer loans, investments, and branches in low- and moderate-income communities. Please withdraw your harmful proposal.

Sincerely,