FDIC Federal Register Citations

September 16, 2004

Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ISS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429-9990.
Re: RIN 3064-AC50

Gentlemen Re RIN 3064-AC50:

I strongly oppose the proposed rule changing the Community Reinvestment Act regulations. In my opinion, it will greatly undermine rural communities. I am Director of the Southwest Georgia Housing Task Force and we provide financial education to first time homebuyers and high school students. Many of these individuals and families are categorized as low to moderate income families.

We provide financial education classes and first time homebuyer workshops to these individuals on a quarterly basis. Our educational curriculum includes such topics as predatory lending, credit and budgeting. One of our goals is to increase information and access to credit for low to moderate income families. We are constantly looking for funding to provide more training opportunities to families as we have discovered that credit worthiness is the greatest barrier to homeownership.

The Community Reinvestment Act was designed to meet the credit needs of the entire community and many of the financial institutions in Region 10 are doing just that. They often assist financially to help fund many of the housing activities that our Task Force conducts. To change this ruling will negatively impact the very people the Act was designed to help. PLEASE DO NOT ADOPT THIS RULE.

Respectfully,

Barbara Reddick
Director, Southwest Georgia Housing Task Force
Camilla, GA