Federal Deposit
Insurance Corporation

From: Jeffrey Mosley [mailto:JMosley@liscnet.org]
Sent: Wednesday, October 20, 2004 2:31 PM
To: Comments
Subject: Strong Opposition to Proposed CRA Changes

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

Gentlemen Re RIN 3064-AC50:

I strongly oppose the proposed rule changing the Community Reinvestment Act regulations. In my opinion, it will really undermine rural communities. These rules do not take into account the vacuum that will be left in underserved rural communities once banks are eased of their obligation to serve these communities across the country. The access to financial capital is more critical and already harder to attract in rural communities. The proposed regulations do not take into account that predatory lenders will seize upon this greater opportunity to prey on low-income individuals and families. If one of the key elements to community revitalization is the participation from the private lending community then on the face of these proposals, low-income rural communities will unduly suffer and be denied the opportunities that will be afforded to its suburban and urban neighbors. This is just wrong. Please do not adopt this rule.

Respectfully,

Jeffrey Mosley
9500 Warren Street
Silver Spring, Md 20910

Jeff Mosley
Program Director
Rural LISC
1825 K Street, NW
Suite 1100
Washington, DC 20006
(202) 739-9289 (Direct)
(202) 785-2908 (Main)
(202) 785-8030 (Fax)