FDIC Federal Register Citations

From: jbaloutine@sbcglobal.net [mailto:jbaloutine@sbcglobal.net]
Sent: Thursday, October 14, 2004 11:09 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

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, The Enterprise Foundation, 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.

As a former bank CRA officer, I know the impact the law has had on our communities in Texas. And I know that the mid sized banks you propose to address are less likely to provide credit to all segments of their market areas without strong regulatory oversight.

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,

Jeff Baloutine
The Enterprise Foundation
1708 Mill Springs Drive
Austin , TX 78746