Federal Deposit
Insurance Corporation

From: jwharris1@rcn.com [mailto:jwharris1@rcn.com]
Sent: Wednesday, October 20, 2004 9:24 AM
To: Comments
Subject: RIN 3064-AC50

Re: Preserving the Community Reinvestment Act
Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429

Dear Mr. Feldman:

I am appalled by reports that the FDIC may change the rules requiring midsize banks to invest in community development activities. The proposed reduction in the areas of required investment would lead to a serious reduction in the flow of credit and capital into the communities that need it the most. The most recent report on wealthholding in the United States shows a widening gap in net assets of whites and minorities--the minorities who usually live in the communities targeted by The Community Reinvestment Act. Please do not make these unjustified rule changes, which would benefit the managers and stockholders of financial institutions at great cost to the those who are greater need.

Yours Sincerely,
J. William Harris