FDIC Federal Register Citations

From: Corby Hannah [mailto:corby.hannah@southstarcdc.org]
Sent: Friday, October 08, 2004 8:54 PM
To: Comments
Subject: Oppose Efforts to Weaken CRA RIN number 3064-AC50

Corby Hannah
PO Box 17628
Atlanta, GA 30316

October 8, 2004

Federal Deposit Insurance Commission
,

Dear Federal Deposit Insurance Commission:

Dear FDIC:

As the Executive Director of SouthStar Community Development Corporation
in Atlanta, GA I would like to express my concern at the possible
weakening of CRA legislation.

Despite the successes of community development locally and nationally, the
banks and thrift institutions that provide the loans, services, and
investments to build new homes, businesses, and community facilities may
no longer have the impetus to do so if the FDIC raises the comprehensive
CRA exam threshold.

I agree with the National Congress for Community Economic Development that
this proposed change would have a devastating effect on affordable housing
and community development investment throughout the nation, particularly
in rural areas. The proposed community development criterion is not a
replacement for ensuring adequate services and investment reach low- and
moderate-income individuals and communities. Successful development must
be targeted to lower income individuals and/or communities, not rural
areas generally.

Please rescind your proposal.

Sincerely,

Corby Hannah