The Home Mortgage Disclosure Act is the means the federal government uses to monitor approval rates by race.

Question

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The Home Mortgage Disclosure Act (HMDA) requires many financial institutions to maintain, report, and publicly disclose loan-level information about mortgages. This data collection includes information on the race, ethnicity, and income of applicants and borrowers, which helps the government monitor whether lenders are serving the housing needs of their communities and identify possible discriminatory lending patterns.

The Home Mortgage Disclosure Act Is the Means the Federal