Finance
The Community Reinvestment Act (CRA) requires federally regulated banks to:
AApprove all loan applications from low-income borrowers
BDemonstrate that they are meeting the credit needs of all segments of their communities, including low- and moderate-income areas✓ Correct
CCharge uniform interest rates regardless of borrower credit
DFund only owner-occupied residential properties
Explanation
The CRA requires federally regulated banks to meet the credit needs of all segments of their communities, including low- and moderate-income (LMI) neighborhoods, helping to counteract redlining practices.
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