What was the Community Reinvestment Act of 1977?

A law taxing communities and giving that money to banks

A law that gave money to people in low-income areas

A law that encouraged bank lending in low-income areas

A law taxing banks and lending that money to low-income people

Question

Braxton Pratt

History

24 September, 02:43

What was the Community Reinvestment Act of 1977?

A law taxing communities and giving that money to banks

A law that gave money to people in low-income areas

A law that encouraged bank lending in low-income areas

A law taxing banks and lending that money to low-income people

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Answers (2)

Know the Answer?

Kara · Answer 1

The answer from the choices is a law that encouraged bank lending in low-income areas.

Mathew Contreras · Answer 2

A law that encouraged bank lending in low-income areas.

Explanation:

The Community Reinvestment Act of 1977 was a law that encouraged bank lending in low-income areas.

What was the Community Reinvestment Act of 1977?A law taxing communities and giving that money to banksA law that gave money to people in low-income areasA law that encouraged bank lending in low-income areasA law taxing banks and lending that money to low-income people

What was the Community Reinvestment Act of 1977?

A law taxing communities and giving that money to banks

A law that gave money to people in low-income areas

A law that encouraged bank lending in low-income areas

A law taxing banks and lending that money to low-income people