FDIC Federal Register Citations

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 being able to comment on your proposal to adjust the threshold under the Community Reinvestment Act (CRA). Please accept this letter as support for your proposal.

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 The Community Reinvestment Act is not being repealed under these proposals.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.

However, I also appreciate and support the intent of the proposal which is to allow some relief for community banks trying to comply with the requirements of many different regulations. This is a for-profit industry and while we understand that the growth of our institution in reliant on the growth of the community, our resources are limited. We contribute to our communities in several ways, many of which do not qualify for credit under CRA but we do them anyway. Passage of this proposal allows for potential growth of these contributions as resources currently allocated to compliance could be applied here.

I urge the FDIC to pass this proposal.

Thank you,

Jeff Hollingsworth