FDIC Federal Register Citations

Cornerstone Bank.


From: Vickie Fastnacht [mailto:vfastnacht@cornerstonebk.com]
Sent: Friday, March 26, 2004 3:42 PM
To: Comments
Subject: Community Reinvestment Act Regulation

Vickie Fastnacht
9120 W. 135th Street
Overland Park, KS 66221

March 26, 2004

Dear FDIC:

As a community banker, I strongly endorse the federal bank regulators'
proposal to increase the asset size of banks eligible for the small bank
streamlined Community Reinvestment Act (CRA) examination from $250 million
to $500 million and elimination of the holding company size limit
(currently $1 billion). This proposal will greatly reduce regulatory
burden.

When a bank must comply with the requirements of the large bank CRA
evaluation process, the costs and burdens increase dramatically. And the
resources devoted to CRA compliance are resources not available for
meeting the credit demands of the community.

Increasing the size of banks eligible for the small-bank streamlined CRA
examination does not relieve banks from CRA responsibilities. Since the
survival of many community banks is closely intertwined with the success
and viability of their communities, the increase will merely eliminate
some of the most burdensome requirements.

I urge the agencies to seriously consider my thoughts and concerns on this
matter.

Sincerely,

Vickie J. Fastnacht