The Federal Reserve is empowered to encourage depository institutions to help meet the needs of communities for housing and other purposes
A) through the Community Reinvestment Act.
B) through the Truth in Lending Act.
C) by a provision of the Fair Housing Act.
D) by strictly enforcing usury laws setting maximum interest rates.

Question

Quizplus · Accepted Answer

The Community Reinvestment Act directs the Federal Reserve to encourage banks and other depository institutions to meet the credit needs of their communities, including for affordable housing and economic development projects.

The Federal Reserve Is Empowered to Encourage Depository Institutions to Help