FDIC Federal Register Citations

From: Scarlett Emerson [mailto:scarlettemerson@novocon.net]
Sent: Sunday, September 19, 2004 1:03 PM
To: Comments
Subject: RIN 3064-AC50

Keuka Housing Council is a small not-for-profit housing agency servicing the rural area of Yates County, New York. All of the banks in our area are small local banks, such as the National Bank of Geneva, Lyons Bank and Bath Bank. Our 1st Time Homebuyers receive mortgages through these banks at reduced rates due to the CRA credits and KHC's bank accounts are with National Bank of Geneva. KHC's accounts must be in FDIC insured accounts. If CRA is "gutted" Keuka Housing Council's clients will need to travel more than an hour to obtain face to face meetings with CRA banks. Our own accounts would no longer be local and we would not have the same intimate working relations and understanding that we now have. I strongly oppose the proposed rule changing the Community Reinvestment Act regulations. This really undermines our rural community. Please so NOT adopt this rule.

Respectfully submitted,

Scarlett Emerson
Board member
Keuka Housing Council