From: wolfrock63@yahoo.com [mailto:wolfrock63@yahoo.com]
Sent: Wednesday, October 20, 2004 8:28 AM
To: Comments
Subject: Save the Community Reinvestment Act

Dear FDIC,

Mr. Feldman:

I am writing to oppose the proposal that would ease Community Reinvestment Act (CRA) requirements for many banks in my area. The CRA is vital for increasing homeownership, promoting minority business ownership, meeting the community development needs of struggling communities, and supporting the capital requirements of nonprofits.

I am very concerned that the proposed Federal Deposit Insurance Corporation (FDIC) rule would be harmful to the community in which I live. Greater Cincinnati is in need of more support from lenders, not less.

In the proposed watered-down process for mid-size banks, the FDIC would allow these financial institutions to pick and choose which community development activities they will undertake. Right now, these banks must make three commitments: community development loans, investments, and services. Your proposed test allows banks to choose just one of the three activities. The result is likely to be less community development activity were I live. That will mean fewer jobs, fewer owner-occupied homes, and fewer community services.

The Community Reinvestment Act was made law to require lenders to meet community needs. It should be obvious to them that this is good business, albeit more challenging. But I don't believe that times have changed enough to eliminate this rule. This proposal would harm my community, and the quality of life for tens of thousands of Americans across the country. Please reevaluate this proposal.

Susan Roschke
500 W Kemper
Springdale, OH 45246