The original purpose of the Community Reinvestment Act was to

Question

Quizplus · Accepted Answer

The Community Reinvestment Act was passed in 1977 in order to address discriminatory lending practices that were preventing economically disadvantaged areas from accessing credit. Its original purpose was to increase the availability of credit in these areas and to ensure that banks were not discriminating against potential borrowers based on factors such as race, ethnicity, or income level. Therefore, both choices A and C are correct. Choice B is incorrect because the act does not provide low interest loans to small businesses directly, but rather seeks to ensure that banks are meeting the credit needs of the communities they serve.

The Original Purpose of the Community Reinvestment Act Was to