FDIC Federal Register Citations

FARMERS STATE BANK

From: Lisa Beck [mailto:Lisa_Beck@fsbmail.net]
Sent: Monday, September 13, 2004 5:08 PM
To: Comments
Subject: RIN3064-AC50

Robert E. Feldman, Executive Secretary
Attn: Comments/Executive Secretary Section
Federal Deposit Insurance Corporation
500 17th Street NW
Washington, DC 20429

RE: Community Reinvestment Act Proposal
RIN 3064-AC50

Dear Mr. Feldman:

I appreciate your requesting input concerning proposed changes in the Community Reinvestment Act.

I have been a community banker for several years and recognize the need for regulatory burden relief in institutions like mine. Banks are growing at record rates and for many, the proposed $1 billion threshold will not be far off. However, the relief provided to these institutions now is invaluable. Resources saved could be allocated towards products and services that would benefit our communities. Implementing additional community development criterion for banks with asset levels between $250 million and $1 billion would, however, defeat the purpose of this proposal. Resources thought to be saved would end up being channeled right back into compliance efforts in order to meet these requirements.

I appreciate and support the intent of the Community Reinvestment Act and realize it is of great importance to communities across the country. I do not feel, as some of the other comment letters suggest, that these proposed changes would undermine the intent of CRA. The Community Reinvestment Act is not being repealed under these proposals. Financial institutions would still have a responsibility under the regulation to support our communities.

Thank you,

Lisa Beck