Federal Deposit
Insurance Corporation

From: Yulonda_Queen@msn.com [mailto:Yulonda_Queen@msn.com]
Sent: Thursday, October 14, 2004 11:05 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 writing to request that you to withdraw your proposed changes to the Community Reinvestment Act (CRA) regulations. My organization, The Coty Group, knows firsthand that the CRA has been instrumental in increasing homeownership, boosting economic development, and expanding small businesses in the nation’s low- and moderate-income communities.

Teh Commuity Reinvestment Act is only a small return that the overarching field of banking should give back in support of the communities whee they do busienss. I know becasue I was one of the few minority bankers in a majority bank prior to CRA. The differences today compared to yesterday have no real comparison to deals that can be made today through areas of the banks partiularly the community development areas. Banks have gained as much if not more than the communities that receive their services. My non-profit organization pays market rates to acheive development projects and often the banks benefit through home mortgages, commercial accounts, and even becasue economic development has taken place in areas that have been redeveloped and the bank opens new branches.

Do not return us to yesterday, especially where minorities and women and the busiensses they owned were last considered for banking services. Just as affirmative action should not end the CRA should not be reduced but increased or once again there will be limited competition, fewer jobs created since women owned businesses are the fastest growing, and the "old boy" network will live again.

I will be personally affected by changes that reduce the number of banks that must provide certain services since I am a female who is black and a single mother. My choices will be limited, my female children's choices will be more limited than their white counterparts becasue there will be a reduction in student loans as a direct result of this act.

I urge the FDIC to reconsider this proposed change and lower the threshold of what is considered to be a small bank instead of increasing the thresholds.

The proposed FDIC rule would exempt many of our community’s key financial partners from the effective and productive requirements currently in place. We oppose any increase to the threshold of what is considered to be a small bank,and we urge the FDIC withdraw its proposed rule Sincerely,

Yulonda Queen
The Coty Group
4255 Hildreth Street
Washington, DC 20019