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FDIC Federal Register Citations



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FDIC Federal Register Citations

FIRST AMERICAN BANK

From: Mike Murphy [mailto:MMurphy@bankfab.com]
Sent: Thursday, September 16, 2004 12:49 PM
To: Comments
Subject: CRA Comments

September 16, 2004

Ladies and Gentlemen:

I would strongly encourage you to raise the threshold for CRA requirements. While our bank has always had a strong CRA rating, we feel it will be difficult to maintain the records required under the current standards.

Our standards will remain high. We are in communities throughout Oklahoma which have a great deal of banking and other financial institution competition. We must support the community with investments and lending initiatives or the community will not support us. For the consumer groups that are opposed to this change because they feel banks will abandon community development efforts, I would say that they need to find the banks that are supportive of their communities and support those banks.

We will would greatly appreciate your consideration in this matter to ease the regulatory burden on community banks.

Sincerely

Executive Vice President
First American Bank
Norman, Oklahoma
Last Updated 09/21/2004 regs@fdic.gov

Last Updated: August 4, 2024