Financing
Financing Practice Question
The Community Reinvestment Act (CRA) encourages banks to:
A
Invest in foreign marketsB
Meet the credit needs of all communities, including low-income areasC
Build new branches in wealthy areasD
Reduce lending in high-risk areasExplanation
The CRA of 1977 requires banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. Banks receive CRA ratings based on their lending, investment, and service activities in these areas.
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