Federal Deposit
Insurance Corporation

From: lmh@neighborhoodprogress.org [mailto:lmh@neighborhoodprogress.org]
Sent: Thursday, October 14, 2004 2:32 PM
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, Neighborhood Progress, Inc., 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.

The Community Reivestment Act has played a critical role in revitalizing some of Cleveland's most distressed neighborhoods. Without this important tool, most of the progress that Cleveland has experienced would not have
occurred.

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,

Linda Hudecek
Neighborhood Progress, Inc.
1956 West 25th Street
Cleveland, Oh 44113