Federal Deposit
Insurance Corporation

October 14, 2004

Mr. Robert E. Feldman,
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW 20429

Dear Mr. Feldman:

I am a citizen and voter who lives in a small community in rural Maine. This letter is to advise you that I oppose your proposed rule change that would reduce Community Reinvestment Act (CRA) requirements for banks in my area and nationally as well. CRA is a vital means for increasing home ownership as well as helping to meet community development needs of many low-income and moderate income communities and nonprofit organizations as well. This proposed FDIC rule change would be detrimental to our community and to many others in the country. Currently, banks must make community development loans, investments, and services. Your proposed test allows banks to choose only one of the three activities. The result will be less community development activity were I live, resulting in fewer jobs, affordable low and moderate homes and community services as well.

As I understand it, the Community Reinvestment Act was made law to require lenders to help meet community needs. Your rule proposal is detrimental to this requirement. It would harm our community, our lives and the lives of many, many Americans like us. I strongly urge you to drop this regressive and counterproductive rule proposal. Ultimately, even the banks themselves will prosper from continuing CRA in its present form because citizens who have decent homes, jobs and services will be in a better financial condition to utilize their services. Thank you.

Sincerely
Patricia K Reilly