Finance
Vermont's 'Community Reinvestment Act' (CRA) compliance affects Vermont banks by requiring them to:
ALend exclusively in Vermont
BDemonstrate that they are meeting the credit needs of all segments of their communities, including low- and moderate-income areas✓ Correct
CCharge equal interest rates to all borrowers
DProvide mortgages only to first-time buyers
Explanation
The Community Reinvestment Act requires Vermont banks and savings institutions to meet the credit needs of all segments of their communities, including low- and moderate-income areas, in a manner consistent with safe and sound banking. CRA performance affects bank merger and expansion approvals.
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