FDIC Federal Register Citations

From: Jessica Thomas [mailto:wanderher@hotmail.com]
Sent: Wednesday, September 29, 2004 9:36 AM
To: Comments
Subject: Comments Community Reinvestment 12 CFR Part 345

I write to strongly object to the proposed rulemaking to increase the
size level of the "small banks" eligible to use the "small bank" test
for CRA compliance.

The proposed change would exempt as many as 94% of depository
institutions from service and investment requirements. It could result
in as much as $5 billion less community investment over the next few
years.

The proposed change would particularly hurt rural communities, that are
often served primarily, or exclusively, by financial institutions who
would no longer be subject to the CRA tests of "large banks." The new
rule would essentially allow these institutions to relax their attention
to investing in and serving disadvantaged members of their communities.

CRA has been an enormously successful and effective vehicle for
improving investment in disadvantaged communities, resulting in benefits
not only to members of those communities, but to our economy and society
as a whole. Please do not make this rule change that would be so
harmful to so many consumers and their communities.

Jessica Thomas
808 Sedgefield Street
Durham, NC 27705