Finance
In New York, the 'Community Reinvestment Act' (CRA) rating of a bank affects:
AThe bank's ability to collect property taxes
BRegulatory approvals for mergers, acquisitions, and branch openings, incentivizing banks to serve all community members✓ Correct
CThe bank's participation in the STAR program
DThe bank's DOS licensing status
Explanation
Federal banking regulators consider a bank's CRA rating when reviewing applications for mergers, acquisitions, and branch expansions. A poor CRA rating can result in regulatory disapproval or conditions on such applications.
Related New York Finance Questions
- In New York, a 'conforming loan' is one that:
- In New York, a 'wraparound mortgage' is one where:
- Which government-sponsored enterprise (GSE) purchases conventional conforming mortgages on the secondary market?
- The debt-to-income (DTI) ratio used by lenders measures:
- What is 'loan-to-value ratio' (LTV)?
- In New York, a 'blanket mortgage' covers:
- What is a 'bridge loan' in real estate?
- New York City's 'mansion tax' applies to residential purchases at or above:
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →