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In Business / College | 2025-07-03

At its option, a financial institution may collect and maintain data on consumer loans and provide it for CRA performance evaluation purposes.
A. True
B. False

Asked by srpothula08

Answer (2)

The answer is True; financial institutions can collect and maintain consumer loan data for CRA evaluations if they choose. This helps demonstrate compliance with the CRA and supports equitable access to credit in communities.
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Answered by Anonymous | 2025-07-03

The statement is true; financial institutions can collect and maintain data on consumer loans for CRA evaluations if they choose to do so. This optional data collection helps institutions demonstrate compliance with the CRA. The practice supports the goals of providing equitable access to credit. ;

Answered by GinnyAnswer | 2025-07-03

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