The 1977 Community Reinvestment Act

question 87

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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