Finance
The Community Reinvestment Act (CRA) was enacted to:
ARequire lenders to offer below-market loans in rural areas
BEncourage depository institutions to meet the credit needs of all communities they serve✓ Correct
CEstablish the conforming loan limits for Fannie Mae and Freddie Mac
DRegulate the sale of mortgage-backed securities
Explanation
The CRA encourages federally insured depository institutions (banks and savings associations) to meet the credit needs of all segments of their communities, including low- and moderate-income neighborhoods, consistent with safe and sound banking operations.
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