Finance
The Community Reinvestment Act (CRA) requires Pennsylvania banks to:
AMake at least 25% of their loans in low-income areas
BMeet the credit needs of all communities in their service area, including low-to-moderate income neighborhoods✓ Correct
CProvide free checking accounts to all Pennsylvania residents
DOffer only fixed-rate mortgages in CRA-designated areas
Explanation
The CRA requires federally insured banks to affirmatively meet the credit needs of all communities in their assessment area, including low-to-moderate income areas. CRA examinations evaluate lending, investment, and service to ensure banks don't avoid lending in traditionally underserved Pennsylvania communities.
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