Fair Housing
The Community Reinvestment Act (CRA) and HMDA together address lending disparities in Texas by:
ASetting mandatory lending quotas for each race
BRequiring lenders to meet community credit needs and collect/report data to identify potential lending discrimination✓ Correct
CProviding direct subsidies to minority borrowers
DReplacing fair housing laws in lending contexts
Explanation
CRA requires financial institutions to meet community credit needs (including LMI areas), while HMDA requires collection and disclosure of mortgage data by demographics and geography. Together they help identify potential lending discrimination and CRA compliance.
Related Texas Fair Housing Questions
- A Texas community has a policy of only marketing new homes to families with children in a specific school district, excluding adults without children. This policy:
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- A Texas real estate agent who obtains a listing should be aware that the Fair Housing Act prohibits the agent from:
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