From: Chris Contreras [mailto:ccontreras@commnatlbank.com]
Sent: Friday, September 17, 2004 4:17 PM
To: Comments
Subject: Support for Raising the Small Institution CRA Exam Eligibility.
Chris Contreras
5123 Bellaire Blvd.
Bellaire, TX 77401
September 17, 2004
Robert E. Feldman
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429
Dear Robert Feldman:
I greatly appreciate
the opportunity to comment on the FDIC’s
proposal to
enlarge the number of banks that will be eligible for the small
institution Community Reinvestment Act (CRA) examination. My bank’s
assets total less than $1 billion and would be a direct beneficiary
of the
additional relief provided by reducing the CRA compliance burden.
I
strongly support this proposal.
Regulatory burden falls heaviest on community banks such as mine.
We are
drowning in regulatory red-tape. We urge the FDIC Board to approve
the
proposed increase to $1 billion in the size of the institutions eligible
for the small bank CRA examination. Tcommunity in recent years ir
business remained the same When preparing for CRA , my bank faces
a my ,
thus defeating the purpose of the Act
The FDIC’s
proposal is a major step towards reducing the regulatory burden
for community banks. While community banks will still be examined
under
CRA for their record of helping to meet the credit needs of their
communities, this proposed revision will eliminate the most problematic
and burdensome elements of the current CRA regulation for community
banks.
I urge the FDIC Board to approve the proposed increase to $1 billion
in
the size of the institutions eligible for the small bank CRA examination.
Thank you for taking my views into consideration.
While community banks will still be examined under CRA for their
record of
helping to meet the credit needs of their communities, these change
will
eliminate some of the most problematic and burdensome elements of
the
current CRA regulation from community banks that are drowning in
regulatory red-tape.
Sincerely,
Chris L. Contreras
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