Federal Deposit
Insurance Corporation

From: David Mccoy [mailto:mccoydb01@msn.com]
Sent: Wednesday, October 20, 2004 12:47 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

I am opposed to the changes proposed. I am a landlord with numerous rental propoerties in Southern California and Idaho. My rental units are all for families of modest means. Every time I put a unit up for rent there are many people trying to rent the unit. I have seen so many single mothers and single fathers with young children, young persons just starting out that need housing at an affordable price. Section 8 checks rarely stretch to the price of housing in my community.

Cutting off investment in the community in the housing supply is just going to create more homelessness on the streets of America. Banks make money off the communities they serve. They should still be required to reinvest in the community.

While President Bush is touting the home ownership society he is simultaneously taking away what has been one of the greatest drivers to achieve that goal. I realize that catering to the wealthy and powerful is what is in vogue these days. But I must say, in a very direct way I see every day the difficult struggle of people not just to purchase housing but to have a roof over their heads which they can afford. Changing this rule is a big mistake in my opinion.
David B. McCoy
2940 Redbarn Lane
Idaho Falls, ID 83404