Federal Deposit
Insurance Corporation

From: mslifcak@dscdo.org [mailto:mslifcak@dscdo.org]
Sent: Thursday, October 14, 2004 2:37 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, Detroit Shoreway Community Development Org., 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-incomecommunities.

Please withdraw your proposed changes to the CRA regs. I am from Cleveland where 1 out of 2 children live in poverty. CRA is a critical component to urban areas serving low income families.

Your proposal will eliminate participation from 90% of the banks in Cleveland.

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,

Meg Slifcak
Detroit Shoreway Community Development Org.
6516 Detroit Avenue
Cleveland, Oh 44102