Finance
Under the Community Reinvestment Act (CRA), banks in Virginia are encouraged to:
AAvoid lending in low-income areas due to higher risk
BMeet the credit needs of all communities they serve, including low- and moderate-income areas✓ Correct
CCharge higher interest rates in underserved communities
DOnly lend to borrowers with 20% down payments
Explanation
The Community Reinvestment Act (CRA) encourages depository institutions to meet the credit needs of all communities they serve, including low- and moderate-income neighborhoods, in a safe and sound manner.
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