Federal Deposit
Insurance Corporation

From: wbliggen@hotmail.com [mailto:wbliggen@hotmail.com]
Sent: Wednesday, October 20, 2004 1:23 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 am a rural investor, and deeply aware of the positive impact that the Community Reinvestmet Act has had by requiring banks to invest in community development activities. The broadly defined activities-- lending, investment and service-- in which the banks are required to invest results in broader distribution of community funds for the overall needs of rural communities. In this way money supports diverse, long-term community goals, like small business funding and housing, and avoids the kind of cherry-picking for short-term profitability that would otherwise ensue.

I am writing against the FDIC’s rule proposal that would allow midsize, largely rural, banks to pursue only one of the three important community development activities they are now required to undertake: lending, investment, and services. The proposed rule change would result in fewer jobs, fewer affordable homes, and fewer community services and be yet another abandonment of rural America. Please withdraw the proposed rule change.

Yours Sincerely,

Ben Winkes