Which of the following is not true about the Home Mortgage Disclosure Act?
A) It was enacted to emphasize to financial institutions the importance of their reinvesting funds in the communities they serve.
B) It was enacted to put redlining into effect.
C) It outlawed geographic discrimination.
D) It requires public disclosure of the financial institution's geographic pattern of mortgage lending.

Question

Quizplus · Accepted Answer

The Home Mortgage Disclosure Act was enacted to prevent redlining and outlaw geographic discrimination. It requires financial institutions to disclose their mortgage lending patterns to ensure they are not discriminating against certain geographic areas or demographics. The act does not put redlining into effect, but rather seeks to prevent it.

Which of the Following Is Not True About the Home