Finance
Iowa's Community Reinvestment Act (CRA) obligations require banks to:
ACharge the same interest rate to all borrowers regardless of credit score
BDemonstrate they are meeting the credit needs of all segments of the communities they serve, including low- and moderate-income areas✓ Correct
CProvide free mortgage counseling to all borrowers
DMaintain minimum deposits in Iowa state banks
Explanation
The CRA requires federally regulated financial institutions to demonstrate they are meeting the credit needs of the entire community, including low- and moderate-income neighborhoods. CRA exams assess lending, investments, and services in Iowa communities.
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