Federal Deposit
Insurance Corporation

From: mtaylr229@aol.com [mailto:mtaylr229@aol.com]
Sent: Wednesday, October 27, 2004 10:14 AM
To: Comments
Subject: Save the Community Reinvestment Act

Dear FDIC,

Mr. Feldman:

I am a concerned citizen who opposes the Community Reinvestment Act (CRA) requirements for most of the banks in my area. CRA is fraud, which supports a number of unelectable, unaccountable "community groups" conduct extortion for banks, big and small.

In the new watered-down process for mid-size banks, FDIC would allow these financial institutions to pick and choose which community development activities they will undertake. Right now, these banks must pay off extortionists in all three areas: loans, investments, and services. Your proposed test allows banks to choose only one of the three activities. The result will be 2/3rds less extortion, but still leaves 1/3 that the banks must pay to "community groups".

As I understand it, the Community Reinvestment Act was made law to require banks to pay money to extortionists. Your rule proposal only corrects 2/3rds of this requirement. It still would harm my community, the quality of my life and tens of thousands of Americans like me. I urge you in the strongest possible terms to drop this hurtful rule proposal and just eliminate the CRA in entirely.

Martha Taylor
Westfield, NJ