Finance
Under the Community Reinvestment Act (CRA), Rhode Island banks are encouraged to:
AIncrease fees for borrowers in low-income areas
BMeet the credit needs of the entire community, including low- and moderate-income neighborhoods✓ Correct
CLimit lending to high-income borrowers only
DRefuse loans in areas with high foreclosure rates
Explanation
The Community Reinvestment Act (CRA) encourages federally regulated banks to meet the credit needs of all segments of their communities, including low- and moderate-income neighborhoods, to combat redlining.
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