From: GloPow@aol.com [mailto:GloPow@aol.com]
Sent: Friday, October 29, 2004 6:27 PM
To: Comments
Subject: RE: RIN 3064-AC50
Robert Feldman, Executive Secretary
Federal Deposit Insurance Corporation
RE: RIN 3064-AC50
Dear Sir:
As an individual who has been concerned about the availability of affordable
housing in rural communities I strongly urge the Federal Deposit Insurance
Corporation(FDIC) to withdraw the proposed cited regulations. If adopted
these proposed
regulations will have a detrimental effect on the rural communities served
by financial institutions which the FDIC oversees.
All financial institutions serving rural communities must be held to the
terms of the Community Reinvestment Act. They should not be allowed to
escape their responsibility to insure that financial resources are available
for community development activities including affordable housing. To do
otherwise is to return to the bad old days when they took the deposits of
local people and did little to help the local community meet the critical
needs of the community.
This is no time to weaken the scope of the CRA and the FDIC should be a
leader in seeing that communities in need are helped, not hurt. Thank you
for considering my comments to the proposed regulation.
Very truly yours,
William Powers
Sacramento, CA 95818
