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In Business / College | 2025-07-03

An institution's facility-based assessment area must:
A. Exclude low- to moderate-income census tracts.
B. Include the counties where it has its main office, branches, and deposit-taking remote service facilities.
C. Reflect illegal discrimination.
D. Exclude areas where it has originated a substantial portion of its loans.

Asked by srpothula08

Answer (2)

A financial institution's facility-based assessment area must include the counties where it has its main office, branches, and deposit-taking remote service facilities, making Option B the correct answer. This is vital for ensuring fair lending practices and community investment. Exclusions based on income level or discrimination contradict the intent of promoting inclusive lending.
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Answered by Anonymous | 2025-07-03

A financial institution's facility-based assessment area must include counties where it has its main office, branches, and deposit-taking remote service facilities. This is essential for fair lending practices and community investment. The correct answer is Option B. ;

Answered by GinnyAnswer | 2025-07-03

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