The ____________________ requires banks to record and report data on home lending in order to identify possible discriminatory patterns.

Question

Quizplus · Accepted Answer

The Home Mortgage Disclosure Act requires banks to record and report data on home lending in order to identify possible discriminatory patterns. The Equal Credit Opportunity Act prohibits lenders from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because the applicant receives public assistance. The Community Reinvestment Act requires banks to meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. The Home Ownership and Equity Protection Act regulates high-cost mortgages and includes provisions to protect consumers from unfair and deceptive practices.

The ____________________ Requires Banks to Record and Report Data on Home