FDIC Federal Register Citations

Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW 20429
RE: RIN 3064-AC50

Dear Mr. Feldman:

For years I have realized the importance the CRA (Community Reinvestment Act) has to creating opportunity and fighting inequity in America, especially in cities, rural areas, and older suburbs. CRA is vital for increasing homeownership and economic development in lower-income communities. However, your proposed changes will halt the progress that has been made.

Raising the threshold for banks to abide by the full requirements of the CRA, from $250 million in assets to $1 billion in assets, will significantly affect communities across America and water down the intent of the Act. Your proposed test allows mid-sized banks to limit their CRA activities significantly.

These changes should be opposed; the CRA has worked well for both communities and banks.

Sincerely,

Marc Cittone
301 Peterson St #311
Fort Collins, CO 80525