Federal Deposit
Insurance Corporation

From: Sr Marie de Paul Combo SCL [mailto:sclsjn@igc.org]
Sent: Wednesday, October 20, 2004 2:00 AM
To: Comments
Subject: SPAM::Community Reinvestment 3064-AC50

Dear FDIC Officials:

On behalf of the Sisters of Charity of Leavenworth Social Justice Office I write to support the comments of the U.S. Conference of Catholic Bishops which were submitted to you on September 16, 2004. In that message Mr. John Carr urged you "to abandon proposed regulations because they would hurt people in low income and rural communities." FDIC's proposed changes to the CRA would greatly curtail housing investment and lending as well as retail services in low and moderate income areas.

Since legislation was first introduced in 1975, the Bishops' Conference has strongly supported disclosure of lending patterns. CRA lending is profitable for banks. The Conference, with its agencies and parishes throughout our country, believes that people must be permitted access to information about the lending practices and patterns of the financial institutions in their communities which seek their business.

Studies have demonstrated that CRA has increased lending to minority and low and moderate income communities. CRA has been effective financial vehicle for rural and urban communities for decades. It has provided these communities with increased opportunities to purchase homes, open small businesses, or operate farms. Such effectiveness must be continued.

We ask that you give careful consideration to the bishops' position as explained in Mr. Carr's comments and withdraw the proposed changes to CRA. Thank you for your attention to this request.

Sincerely,
Sister Marie de Paul Combo, SCL
Sisters of Charity of Leavenworth
439 N 32nd St.
Kansas City KS 66102-3928