Which of the Following Acts Requires That the Appropriate Federal

question 28

Multiple Choice

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?

• A) Home Mortgage Disclosure Act
• B) Fair Housing Act
• C) Equal Credit Opportunity Act
• D) Community Reinvestment Act
• E) Financial Institutions Reform, Recovery and Enforcement Act

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Definitions:

Capital Resources

Assets such as buildings, machinery, and equipment used to produce goods and services.

Money Circulating

The total volume of money within the economy that is actively used for transactions, trading, and other financial activities.

Rational Behavior

In economics, it refers to making decisions that maximize an individual's benefit while minimizing costs, based on preferences and available information.

Economic Analysis

A methodical strategy for deciding the best way to allocate limited resources, which includes evaluating multiple options to reach a particular goal within established assumptions and limitations.