FDIC Federal Register Citations

From: Melissa Rudnick
Sent: Monday, August 23, 2004 2:08 PM
To: Comments
Subject: CRA proposed change

I am writing as a citizen who has first hand experience of the need for, and
benefits of, the CRA.

I am not aware of the history of the CRA or of the politics that are
surrounding this effort to re-define the term "small bank, but I do know
that after college, while living for a short time in Connecticut, I was
shocked by some of the practices of the banks. We were able to successfully
address our concerns and have the needs of the community met because of the
guidelines that are in existence through the CRA.

After Connecticut, I moved back to my home of Minnesota, where I have lived
for over 20 years. I understand that if the proposed change passes,
Minnesota would have four or fewer banks that are subject to participating
in CRA guidelines. This is unacceptable.

Equal opportunity is a key component of our democracy, and when the
institutions that hold our nation's assests do not willingly participate in
our democracy, we must create expectations, guidelines and opportunities to
help these institutions participate in our democratic nation. The CRA is an
important tool in upholding the principles of our nation: equal opportunity
for all, regardless of age, race, income, geographic location etc.

I strongly urge you to protect the CRA and to keep the definition of smalls
banks as is.

Thanks much,
Melissa Rudnick
3148 10th Avenue South
Minneapolis, MN