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Exam CRCM topic 1 question 16 discussion

Actual exam question from ABA's CRCM
Question #: 16
Topic #: 1
[All CRCM Questions]

Subprime borrowers are those with weakened credit histories or reduced repayment capacity. Loans to these borrowers historically have had a higher delinquency rate. Many lenders have expanded their lending programs and added subprime products as a method of meeting their _______________ by providing greater credit access to lower-income consumers.

  • A. Community Reinvestment Act (CRA) responsibilities
  • B. Fraudulent marketing tactics
  • C. FTC Act
  • D. Predatory Lending
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Suggested Answer: A 🗳️
by JessyJazz24 at Oct. 4, 2023, 10:46 p.m.

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Cam22
5 months, 3 weeks ago
The Community Reinvestment Act (CRA) encourages financial institutions to meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations. By expanding their lending programs to include subprime products, lenders can help meet their CRA responsibilities by providing greater credit access to lower-income consumers.
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JessyJazz24
11 months ago
Selected Answer: A
Reinvestments can be a great thing for the company
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