Federal Deposit
Insurance Corporation

From: WellerK@aol.com [mailto:WellerK@aol.com]
Sent: Wednesday, October 20, 2004 6:00 PM
To: Comments
Cc: cra@nahro.org; jerry.weller@mail.house.gov; senatorlugar@lugar.senate.gov; senator@bayh.senate.gov; president@whitehouse.gov
Subject: RIN 3064-AC50 concerns

With one day left before the close of the FDIC comment period about proposed changes to the Community Reinvestment Act (CRA), I would like to make my feelings known on this important matter.

These modifications not only decrease the number of Banks that would face the comprehensive compliance exams, but would also affect the examination itself by removing the requirements on the investment and service elements and instead making them options under the lending test.

Key points include:

1. With government funding shrinking, eliminating regulatory incentives for private capital to leverage public dollars is rather reckless.
2. Until now, CRA has driven access to community development loans, investments and services, benefiting low and moderate income households and communities.
3. The FDIC's proposed rule will therefore impair affordable housing, and community & economic development, particularly in rural areas.

The Community Revitalization & Development meeting (which occurred during the recent Baltimore National Conference), passed a resolution which supports NAHRO's current position opposing the FDIC-proposed rule that would alter requirements under the CRA.

Thank you for your continued commitment to and support for improving all communities.
Many folks still need safe, affordable housing.

Sincerely,
K A Weller, a Voter