The Community Reinvestment Act is designed to prevent a lender from arbitrarily marking out certain neighborhoods as undesirable and refusing to lend to people who live in those neighborhoods.

Question

Quizplus · Accepted Answer

The Community Reinvestment Act is a federal law that aims to encourage banks and other financial institutions to lend money to individuals and businesses in low- and moderate-income neighborhoods, including those that are historically underserved or have experienced discrimination in the past. The law is designed to ensure that lenders are not unfairly excluding certain communities from access to credit and financial services.

The Community Reinvestment Act Is Designed to Prevent a Lender