Federal Deposit
Insurance Corporation

From: Sydney Mahnke [mailto:sydneym@sover.net]
Sent: Wednesday, October 20, 2004 1:22 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

I oppose the FDIC's proposal to allow banks with assets above $250 million to be examined as small banks under the Community Reinvestment Act. This policy would reduce lending, investments and services in low-income communities, especially in rural states like Vermont.

Under the proposed regulations, seven banks in our state would no longer be subject to full CRA review. As a result, they will be far less likely to invest in affordable housing and community development, for instance through the purchase of federal low income housing tax credits.

Because of its rural nature, Vermont is far more dependent on small, community banks to support affordable housing and community development. The proposed regulations will seriously undermine our small state’s efforts to provide decent, safe and affordable housing for all its citizens.

Sincerely,
Sydney Mahnke
60 Grove St.
Burlington, VT 05401