Fair Housing
In South Dakota, which federal law requires lenders to report loan data by race, gender, and income to detect discriminatory lending patterns?
ARESPA
BECOA
CHome Mortgage Disclosure Act (HMDA)✓ Correct
DFair Credit Reporting Act (FCRA)
Explanation
The Home Mortgage Disclosure Act (HMDA) requires lenders to collect and report data on mortgage applications and loans by demographics, enabling regulators to identify potential discriminatory patterns.
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