Federal Deposit
Insurance Corporation

From: Ellie Kastanopolous [mailto:elliek@equitytrust.org]
Sent: Friday, October 15, 2004 9:41 AM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

Please do not take out any of the last remaining teeth of the CRA Act. I was working with many small banks in Maine in the early 90s. We put together some really great projects because of the incentives of CRA. The climate and willingness of banks has cooled incredibly since that time and while I truly believe that there are many bankers who wish to invest in their communities, their banks will over ride them. The truth is that community projects tend to be more time-consuming but they are critical to the health of our people most in need. Banks can afford to take this extra time but if you allow them to make the decision based solely on fiscal sense very few banks will make that extra commitment even when there are staff
within them pushing the community project. In addition to bankers internally I believe that investers also push for community development. The growth in the socially responsible investment universe is proof of this.

Please do not take away CRA strength. Put it back!!!!

Ellie Kastanopolous
Equity Trust
P.O. Box 746
Turners Falls, MA 01376