Finance
Under the Community Reinvestment Act (CRA), banks and savings institutions are required to:
AOffer below-market interest rates to all first-time homebuyers
BMeet the credit needs of their entire community, including low- and moderate-income neighborhoods✓ Correct
CInvest a minimum percentage of deposits in government bonds
DHire licensed real estate agents for all property sales
Explanation
The CRA requires federally insured financial institutions to meet the credit needs of the communities they serve, including low- and moderate-income areas, while operating in a safe and sound manner.
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