Federal Deposit
Insurance Corporation

From: davidaquilina@msn.com [mailto:davidaquilina@msn.com]
Sent: Wednesday, October 20, 2004 12:19 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:

My wife and I are socially responsible investors. We understand the important role of CDFIs in revitalizing communities through affordable housing and financing small business start-ups. The Community Reinvestment Act has provided banks with an essential incentive to work with CDFIs and provide vitally needed capital to communities that sorely need investment.

We urge you to withdraw the FDIC’s proposed rule that would allow midsize banks to undertake only one of the three important community development activities that are now required: lending, investment, and services. This flawed, misguided rule would seriously reduce support for the essential work of CDFIs. The impact would be fewer jobs, less affordable housing, and a lower level of community services.

Thanks for your consideration.

Sincerely,
David Aquilina