FDIC Federal Register Citations

From: Robert Collier [mailto:score694@verizon.net]
Sent: Monday, October 18, 2004 4:48 PM
To: Comments
Subject: re: comments associated with RIN 3064-AC50

I don't suppose this objection to the proposed rule to change the status of
banks with assets less than $250 million will have too much weight against
the power of the growing bank monopolies. It appears that the move is to
wipe out "neighborhood" defined banks to eliminate the CRA rule that helps
low-income and the dwindling middle-income people. This is a legal
red-lining move on the part of the banking industry, it would seem. In
addition, the larger banks already have over 93 percent of assets and would
control even more the access to funds by poorer residents more than the
neighborhood bank, as well as any entrepreneurship of many struggling
communities. It appears to me monopoly cannot be regulated by mere mortals
because ethics are difficult to maintain. The new deregulation discussions
only confirm that private market sources are destructive to a democratic
foundation of equal access and availability among its citizens.
I unequivocally oppose the redefinition and changing of the status of small
banks regrdless of their association with larger acquiring institutions.
Something must be left to the community.

Robert S. Collier, ABD
New Paltz University