Federal Deposit
Insurance Corporation

From: Derek Grant [mailto:dbg1dbg@yahoo.com]
Sent: Tuesday, October 19, 2004 9:49 PM
To: Comments
Subject: RIN number 3064-AC50 (Community Reinvestment Act)

To Whom It May Concern:

I am writing to oppose any changes to the Community Reinvestment Act.

I have watched over the years as this act has helped under-privileged neighborhoods and struggling small towns to benefit from nation-wide economic growth. It is completely fair that banks which profit from customers in these areas are required to "give something back."

The investment mandates of the CRA are clearly not causing undue stress to the banking sector, which continues to prosper and has adapted to the act as it now stands. On the other hand, the investments mandated by the act are the life-blood of economic and quality-of-life progress in the affected communities and their importance cannot be underestimated.

The currently proposed changes to the Community Reinvestment Act will a major set-back for economic growth and public well-being in the affected communities and in our nation as a whole.

Please leave the Community Reinvestment Act unchanged.

Derek Grant
1925 Overland Ave. #205
Los Angeles, CA 90025