FDIC Federal Register Citations

Molokai Community Service Council

From: Karen Holt [mailto:karenh@molokai.org]
Sent: Thursday, October 14, 2004 2:00 PM
To: Comments
Subject: Re RIN 3064-AC50: Please Don't Weaken CRA Requirements

Robert E. Feldman, Executive Secretary
Attention: Comments/Legal ISS
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429-9990.

Re: RIN 3064-AC50

Aloha Mr. Feldman,

I am writing from the island of Moloka'i, the most rural island in the
state of Hawai'i. More than 60% of the people who live here are native
Hawaiian, and our average per capita income is just over $10,000. We
have benefited significantly from the provisions of the current CRA
rules that require banks to assist low and moderate income people and/or
places. For example, using CRA funds two of our banks have provided
seed money to establish a small business development center here, giving
our isolated community access to technology and resources that would
never have been available without their help.

The proposed amendments to the Community Reinvestment Act regulations
will eliminate incentives for banks to provide assistance to rural
communities like ours. On behalf of our community, we ask you not to
adopt the proposed changes.

Mahalo nui (thank you very much),

Karen M. Holt
Executive Director
Molokai Community Service Council
P.O. Box 2047
Kaunakakai, Hawaii 96748