Finance
The Community Reinvestment Act (CRA) requires Virginia banks to:
AMake loans only to high-income borrowers
BServe the credit needs of all communities, including low-and moderate-income neighborhoods, in their service areas✓ Correct
CCharge lower rates to first-time buyers
DContribute to Virginia Housing programs
Explanation
The CRA requires federally supervised banks and thrifts to meet the credit needs of their entire service area, including low-and-moderate-income communities, helping combat redlining.
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