FDIC Federal Register Citations

From: Susan P. Thomas [mailto:Susan.P.Thomas@Dartmouth.EDU]
Sent: Monday, September 20, 2004 9:43 AM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment

Dear Mr. Feldman:

My husband and I are pastors at Our Savior Lutheran
Church and Student Center in Hanover, NH. We strongly oppose your proposal to
significantly weaken the Community Reinvestment Act (CRA).

You propose less stringent CRA requirements for banks that have between $500
million to $1 billion in assets. This proposal will result in
many fewer home and small business loans to low- and
moderate-income borrowers and many fewer community development
loans and investments in low- and moderate-income communities.

In addition, you propose that banks can earn CRA points by
financing community development projects that will primarily benefit affluent
residents in rural areas, instead of low- and moderate-income
consumers and communities in rural America. This is directly
contrary to CRA$E2s focus on meeting credit needs of low- and
moderate-income communities.

In sum, all of your proposals will result in many fewer loans,
investments, and branches in low- and moderate-income
communities. Please withdraw your harmful proposal.

Sincerely,

The Reverends Susan and Michael Thomas
Our Savior Lutheran Church and Student Center
Hanover, NH