Fair Housing
Which federal act specifically prohibits discriminatory lending practices and requires community reinvestment by financial institutions?
AThe Home Mortgage Disclosure Act (HMDA)
BThe Community Reinvestment Act (CRA)✓ Correct
CThe Equal Credit Opportunity Act (ECOA)
DThe Fair Housing Act
Explanation
The Community Reinvestment Act (CRA) requires federally regulated financial institutions to meet the credit needs of all communities they serve, including low- and moderate-income areas, helping to combat redlining.
Related New York Fair Housing Questions
- Under New York law, which of the following is a legitimate reason a housing provider may use in tenant selection without violating fair housing laws?
- Under New York law, which housing type is exempt from the familial status protections of the Fair Housing Act?
- Under New York City's Human Rights Law, which of the following is a protected class NOT covered by the federal Fair Housing Act?
- Redlining is an illegal practice where:
- A senior housing community in New York may legally restrict occupancy to older persons if:
- Under fair housing law, 'familial status' means:
- Under the Americans with Disabilities Act (ADA), newly constructed multi-family housing of four or more units must include:
- A landlord who charges a higher security deposit to a tenant with a disability to cover potential costs of a service animal is:
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