Federal Deposit
Insurance Corporation

From: glennalecarl@aol.com [mailto:glennalecarl@aol.com]
Sent: Wednesday, October 20, 2004 6:46 AM
To: Comments
Subject: RIN 3064-AC50

Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429

Dear Mr. Feldman:

I appreciate the vital role CDFIs play in revitalizing communities. The Community Reinvestment Act has provided banks with an important incentive to work with CDFIs and provide vitally needed capital to struggling communities.

I urge you to withdraw the FDIC’s rule proposal that would allow midsize banks to pursue only one of the three important community development activities they are now required to undertake: lending, investment, and services. I am reminded of the old axim that if it's not broke, don't fix it. I believe that this rule change would make that mistake and as a result would mean a devastating reduction in support for the essential work of CDFIs. Fewer jobs, fewer affordable homes, and fewer community services would be the 'remedy' for a problem that doesn't exist.

Yours Sincerely,
Glenn LeCarl