Federal Deposit
Insurance Corporation

From: Jeanne Holden [mailto:jholdenw@hotmail.com]
Sent: Saturday, October 16, 2004 8:30 PM
To: Comments
Subject: RIN 3064-AC50, Community Reinvestment

Dear Mr. Feldman:

I am a concerned citizen (or representative of a community group) strongly opposed to your proposal to significantly weaken the Community Reinvestment Act (CRA). You propose much easier CRA requirements for banks between $250 million to $1 billion in assets. This proposal will result in fewer home and small business loans to low- and moderate-income borrowers and fewer community development loans and investments in low- and moderate-income communities. In addition, you propose that all FDIC-supervised banks can earn CRA points by financing community development projects that benefit affluent residents in rural areas, instead of low- and moderate-income consumers and communities in rural America. This is directly contrary to CRA’s focus on meeting credit needs of low- and moderate-income communities. In sum, your proposal to change the CRA regulation will result in fewer loans, investments, and branches in low- and moderate-income communities. Please withdraw your harmful proposal.

Sincerely,

Jeanne Holden-Wiltse
211 Avalon Dr.
Rochester, NY 14618