Federal Deposit
Insurance Corporation

From: John Cariddi [mailto:jcariddi@ix.netcom.com]
Sent: Wednesday, October 20, 2004 3:37 PM
To: Comments
Cc: CRA@nahro.org
Subject: RIN 3064-AC50

Gentlemen:

In the affordable housing business we all realize that government funding is shrinking and therefore eliminating regulatory incentives for private capital to leverage public dollars is reckless. CRA has driven access to community development loans, investments and services, benefiting low- and moderate-income households and communities. The FDIC's proposed rule will therefore impair affordable housing, and community & economic development, particularly in rural areas like Franklin County Massachusetts. I've been told it will also have a devesting impact on rural states like Vermont where only one or two banks will have a future CRA commitment if this regulatory incentive is eliminated. Please do not eliminate a source of small but very beneficial local support especially at this time of shrinking resources.

Sincerely,
John Cariddi
.