Community Reinvestment Act encouraged banks to lend in low- and moderate-income areas.
Step-by-step explanation:
President Carter’s Community Reinvestment Act happened in a bid to have a increase of the money of the low income and mid income household back in the banking system through a system of loans and to allow them also to get more capital for less amount of taxation and interest.
The act encouraged banks to lend in low- and moderate-income areas.
This helped get more capital into the banks and also allowed the people to get the loans they needed for less interest.