Redlining Was First Allowed Under the Community Reinvestment Act of 1977

question 7

True/False

Redlining was first allowed under the Community Reinvestment Act of 1977.

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Definitions:

Lower Of Cost

An accounting principle ensuring that inventory is reported at the lower of its original cost or its market value if the market value is less.

Market Rule

A guideline or principle applied to assess the acceptability, pricing, or regulation of goods and services in a market.

Lower Of Cost

An accounting principle requiring that inventory is recorded at the lower of its historical cost or current market value.

Market Value

The prevailing market rate at which a commodity or service is traded.