Federal Deposit
Insurance Corporation

From: jkulik@rcbo.org [mailto:jkulik@rcbo.org]
Sent: Tuesday, October 19, 2004 7:15 PM
To: Comments
Subject: RIN 3064-AC50

Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429

Dear Mr. Feldman:

This is not a time to curtail viable and responsible ways of assisting in the revitalization of communities, especially if they are focused on securing affordable housing and small business startups in their areas. Banks need the encentive that the Community Reinvestment Act provides to work with CDFIs and provide vitally needed capital to struggling communities.

I urge you to withdraw the FDIC’s rule proposal that would allow midsize banks to pursue only one of the three important community development activities they are now required to undertake: lending, investment, and services. I believe that this change in policy would have a devastating effect on the essential work of CDFIs, resulting in fewer jobs, fewer affordable homes, and fewer community services.

Yours Sincerely,

Joan Kulik