Finance
Under the Community Reinvestment Act (CRA), banks must:
AProvide mortgages at below-market rates in minority neighborhoods
BMeet the credit needs of all communities in their assessment area, including low- and moderate-income areas✓ Correct
CDonate 1% of profits to community development
DAccept all mortgage applications regardless of creditworthiness
Explanation
The Community Reinvestment Act (CRA) requires banks to serve the credit needs of all segments of their communities, including low- and moderate-income areas, preventing them from cherry-picking only wealthy areas for lending while ignoring underserved communities.
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