Federal Deposit
Insurance Corporation

Pocono Mountains Industries

From: Charles A. Leonard [mailto:cleonard@poconomtsindustries.com]
Sent: Tuesday, October 19, 2004 8:06 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

Sirs, We are concerned that any weakening of the community reinvestment act could reduce the availability of banking sevices for the businesses in our community. We suffered greatly in the late 1980's and the 1990's as a result of a general business downturn that left many financial institutions with significant losses. Many branch banks closed and many sought to divest themselves of loans made in our area. We are highly dependant on tourism and when tourist industries cannot get loans to expand, upgrade and improve their properties, employment opportunity suffers. Our unemployment rate is higher than average and our wage rates are lower than surrounding areas.

The CRA gives a nudge to institutions that might otherwise avoid some of the deals that now get funded. Please don't change the CRA requirement.

Charles A. Leonard, Executive Director
Pocono Mountains Industries
556 Main Street
Stroudsburg, Pa