Finance
Vermont's usury laws historically set maximum interest rates on loans. Today, which federal law largely preempts state usury limits for first mortgage loans?
AThe Fair Housing Act
BThe Depository Institutions Deregulation and Monetary Control Act (DIDMCA)✓ Correct
CThe Community Reinvestment Act
DThe Home Mortgage Disclosure Act
Explanation
The Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980 largely preempted state usury limits on first mortgage loans made by federally chartered institutions, allowing them to charge market-rate interest regardless of state caps.
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