Federal Deposit
Insurance Corporation

From: beltway007@starpower.net [mailto:beltway007@starpower.net]
Sent: Wednesday, October 20, 2004 3:58 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

I oppose exempting a large number of banks and financial institutions from the requirements of the Community Reinvestment Act. Such an exemption will deprive low income neighborhoods of the investments they so desperately need to remain stable and grow, attracting new businesses and homeowners.

I live in ward 5, a low-moderate income community of Washington, DC. Much of this ward has been starved for investment and lending for at least 40 years. Only recently has a large grocery store and hardware chain been attracted to the ward based on the disposable income here and in an adjoining ward where the incomes are higher. There are numerous small businesses along major arterials that, with just a little bit of help, business planning, and small loans, could vastly improve their services, products, expand their customer base, and their bottom line.

It doesn't take large chunks of money. Just small, tailored loans and investments by banks and other financial institutions. These are precisely the types of loans made by smaller lenders that the FDIC proposes to exempt from CRA. Such an exemption will starve this ward of essential community investment.

I urge the FDIC to reconsider this ill-advised move.

A Washington, DC Ward 5 resident