From: Sarah Michelle Frank [mailto:Sarah.Frank@uky.edu]
Sent: Wednesday, September 15, 2004 11:27 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th St. NW
Washington, DC 20429
RE: RIN 3064-AC50
Dear Mr. Feldman:
I am very concerned about the potential raising of the threshold for
full CRA compliance from $250 million to $1billion. Presently there are
three states and the District of Columbia that have no banks with over
$1 billion in assets. In addition, there are 13 states that have four or
fewer banks or financial institutions with over $1billion in assets.
The cumulative effect of such a change is that there would be far
fewer CRA assets available to the developers of affordable housing,
particularly in rural areas across the United States. If you combine
that with the fact that we are likely to see an increase in interest and
mortgage costs in the next few years, the American dream of affordable
housing will be that much more unattainable for thousands of families.
Thank you for your consideration on this very important matter.
Sincerely,
Sarah Frank
Graduate Studies
Department of Community and Leadership Development
College of Agriculture
University of Kentucky
