Which of the following acts requires that the appropriate federal financial supervisory agencies encourage regulated financial institutions to meet the credit needs of the local areas in which they are chartered, consistent with safe and sound operation?

Question

Quizplus · Accepted Answer

The Community Reinvestment Act (CRA) requires that the appropriate federal financial supervisory agencies encourage regulated financial institutions to meet the credit needs of the local areas in which they are chartered, consistent with safe and sound operation. The Home Mortgage Disclosure Act (HMDA) requires lenders to provide certain disclosures related to mortgage lending, the Fair Housing Act (FHA) prohibits discrimination in housing, and the Equal Credit Opportunity Act (ECOA) prohibits discrimination in lending. The Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) was enacted to address issues in the savings and loan industry.

Which of the Following Acts Requires That the Appropriate Federal