FDIC Federal Register Citations

From: Todd Harvey [mailto:todd@jubileerestore.org]
Sent: Thursday, September 16, 2004 5:13 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50

To Whom it may concern;

Under current rules, small banks with assets under $250 million undergo a limited CRA exam that covers only some basic lending activities. Larger banks undergo a full CRA exam that covers lending, investments, and services. Now the Federal Deposit Insurance Corporation (FDIC) has proposed to allow all banks with assets under $1 billion to have the limited exam. Only 6% of FDIC-regulated banks would face a full CRA exam. This change would harm low- and moderate-income communities, and leave some states with no banks subject to a full CRA exam. The Office of Thrift Supervision (OTS) has already finalized a similar rule. The two other regulators, the Federal Reserve Board and the Office of the Comptroller of the Currency, are considering a similar change. Other changes could also follow.

Todd Harvey
Senior Project Manager
Jubilee Restoration
1125 Allston Way
Berkeley, California, 94702

Telephone 510-540-8111 extension 17
Cell phone 510-847-5957
Facsimile 510-849-9092
Email todd@jubileerestore.org
Web www.jubileerestore.org