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The 1977 Community Reinvestment Act

Question 24

Multiple Choice

The 1977 Community Reinvestment Act


A) allowed the Department of Housing and Urban Development (HUD) to initiate legal action in cases of housing discrimination.
B) required banks to lend in the neighborhoods in which they do business.
C) outlawed the practice of banks offering subprime mortgage products with higher interest rates to home buyers on the basis of race.
D) mandated that all property tax revenue would remain within local communities.

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