Finance
In South Carolina, the 'Community Reinvestment Act' (CRA) encourages banks to:
ARefuse loans in high-crime areas
BMeet the credit needs of all segments of their service area, including low-income areas✓ Correct
COnly make loans insured by FHA or VA
DCharge lower rates in wealthy neighborhoods
Explanation
The CRA requires banks to meet the credit needs of all community members, including low- and moderate-income areas, to prevent redlining and ensure equitable access to credit.
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