FDIC Federal Register Citations

From: Carol Haebler [mailto:chaebler@grolen.com]
Sent: Thursday, September 16, 2004 1:29 PM
To: Comments
Cc: cford@ncrc.org; myager@afsc.org
Subject: RIN 3064-AC50 Community Reinvestment

September 16, 2004

Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC

Re: RIN 3064-AC50

Dear Mr. Feldman:

I am a concerned citizen opposed to watering down CRA requirements for mid-sized banks. Your proposal would eliminate the investment and service requirements for all banks with under $1 billion in assets. Now banks are required to make community development loans, investments and services to show they are in compliance with the Community reinvestment Act. Your proposal would allow a bank to choose only ONE activity which would result in less community development activity overall.

In addition, you propose that banks can earn CRA points by financing community development projects that benefit affluent residents in rural areas, instead of low-and moderate-income consumers and communities.

Your proposals will result in fewer loans, investments, and branches in low-and moderate-income communities. Please withdraw this proposal.

Sincerely,

Carol Haebler
494 Hall Street
Manchester, NH 03103

cc: National Community Reinvestment Coalition
M. Yager,AFSC
President George Bush
Sen. John Kerry