FDIC Federal Register Citations

Enterprise Housing Financial Services

From: kfaust1960@aol.com [mailto:kfaust1960@aol.com]
Sent: Thursday, October 14, 2004 1:42 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

10/14/04 1:42:10 PM

Mr. Robert E. Feldman

Executive Secretary

Attention: Comments/Legal ESS

Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50

Dear Mr. Feldman:

I am writing to request that you to withdraw your proposed changes to
the Community Reinvestment Act (CRA) regulations. My organization,
Enterprise Housing Financial Services, knows firsthand that the CRA has
been instrumental in increasing homeownership, boosting economic development, and
expanding small businesses in the nation’s low- and moderate-income
communities.

The Community Reinvestment Act is a critical component of our community’s
affordable housing and community development solutions. For the past 20
years, EHFS has financed over 57,000 units of affordable housing
throughout this country. Without strong support from our financial
institution partners, this work would not have been possible.
In addition, the strong urban renaissance many cities are currently
experiencing would not have happened without CRA. In cities not
experiencing that renaissance, CRA is more important than ever. CRA is a
proven win-win situation for the bank, the borrower and the community.
Don't let a few whiners ruin one of the best public-private partnerships
of the last quarter century!

The proposed FDIC rule would exempt many of our community’s key
financial partners from the effective and productive requirements
currently in place. We oppose any increase to the threshold of what
is considered to be a small bank,and we urge the FDIC withdraw its
proposed rule Sincerely,

Kristin Faust
Enterprise Housing Financial Services
10227 Wincopin Circle
Columbia , MD 21044