FDIC Federal Register Citations

From: jon.kimmel@westtown [mailto:jon.kimmel@westtown]
Sent: Wednesday, October 20, 2004 8:28 AM
To: Comments
Subject: RIN 3064-AC50

Re: Preserving the Community Reinvestment Act

Mr. Robert E. Feldman
Executive Secretary
Attention: Comments/Legal ESS
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429

Dear Robert Feldman:

I am writing to you today because I think it's very important that financial institutions play a key role in helping people in less privileged parts of our country help themselves. The financial industry profits greatly from all Americans. Unfortunately, this relationship is not always reciprocated.

One major way banks have made a very positive difference in our country (and made plenty of money doing so) is through the community reinvestment requirements. I am not a big fan of government telling businesses what to do, but this one makes sense for every single American, rich or poor.

Please do not change the rules to allow midsize banks to pursue only one of the three important community development activities they are now required to undertake. All three - lending, investment, and services - are vital to our economy.

The existing rules benefit everyone except the supergreedy. We are all in this together, and you have the opportunity to prove it. Please don't change the rules.

Jonathan Kimmel