First Federal Community Bank - Bucyrus Revenue and Competitors

With the passing of the Dodd Frank Wall Street Reform and Consumer Protection Act on July 21, 2010, our responsibilities as a Community partner have changed dramatically, and will continue to do so. A major piece of the Dodd Frank legislation was the creation of the Consumer Financial Protection Bureau, which is a department that was developed to protect borrowers from predatory lending practices, among other things. One of the first pieces of regulation coming down from the CFPB is the requirement of mortgage lenders to send a monthly statement to borrowers. These statements will contain several pieces of information currently not available on our coupon books, such as your current principal balance, posting of your previous month's payment and breakdown of that payment, and so forth.