Federal Deposit
Insurance Corporation

From: Stan [mailto:stan@communityactionduluth.org]
Sent: Wednesday, October 20, 2004 12:30 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

As a director of a Minnesota non-profit that serves low-income citizens, I am concerned about the proposed changes to the Community Reinvestment Act requirements for financial institiutions. I have seen where CRA support has initiated very creative approaches to housing developments, neighborhood revitalization and financial skill development (economic literacy, Individual Development Accounts, etc.). The reduction in the number of banks that comply with CRA will weaken an effective tool in enhancing the lives of low-income citizens who desire safe and affordable housing.

Stan Kaitfors,
Executive Director
Community Action Duluth
19 North 21st Avenue West
Duluth, MN 55806