Federal Deposit
Insurance Corporation

From: Roy Diamond [mailto:Roy@diamondandassociates.com]
Sent: Wednesday, October 13, 2004 5:10 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

The proposed rule would, in effect, gut the Community Revinestment Act, and undermine its purpose.

Compliance with the Act does not appear to be a burden to banks below $1 billion and more than $250 million in assets, so the proposal does not alleviate an unnecssary cost.

Communities throughout the country rely upon banks in this range to provide products and services that are essential to their survival.

Passage of the proposed law would harm these communities.

Roy Diamond