Finance
The Community Reinvestment Act (CRA) requires federally regulated financial institutions to:
AOffer below-market rates to all first-time buyers
BMeet the credit needs of all segments of their communities, including low-income areas✓ Correct
CApprove all loan applications regardless of creditworthiness
DDedicate 10% of profits to affordable housing
Explanation
The CRA requires federally insured depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, while maintaining safe and sound banking practices.
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