Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 27

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 27
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 institutions to provide information to enable the public and public officials to determine whether a financial
    institution is fulfilling its obligation to help meet the housing needs of the communities they serve;

    ·
    ECOA and Regulation B, prohibiting discrimination
    on the basis of race, color, religion, or other prohibited factors in any aspect of a credit transaction;

    ·
    the Fair Credit Reporting Act, as amended by the
    Fair and Accurate Credit Transactions Act and Regulation V, as well as the rules and regulations of the FDIC governing the use of
    consumer reports, provision of information to credit reporting agencies, certain identity theft protections and certain credit and
    other disclosures;

    ·
    the Fair Debt Collection Practices Act and Regulation
    F, governing the manner in which consumer debts may be collected by collection agencies and intending to eliminate abusive, deceptive,
    and unfair debt collection practices;

    ·
    the Real Estate Settlement Procedures Act, or
    “RESPA,” and Regulation X, which governs various aspects of residential mortgage loans, including the settlement and
    servicing process, dictates certain disclosures to be provided to consumers, and imposes other requirements related to compensation
    of service providers, insurance escrow accounts, and loss mitigation procedures;

    ·
    The Secure and Fair Enforcement for Mortgage Licensing
    Act, the “SAFE Act,” which mandates a nationwide licensing and registration system for residential mortgage loan originators.
    The SAFE Act also prohibits individuals from engaging in the business of a residential mortgage loan originator without first obtaining
    and maintaining annually registration as either a federal or state licensed mortgage loan originator;

    ·
    The Homeowners Protection Act, or the PMI Cancellation
    Act, provides requirements relating to private mortgage insurance on residential mortgages, including the cancellation and termination
    of PMI, disclosure and notification requirements, and the requirement to return unearned premiums;

    ·
    The Fair Housing Act prohibits discrimination
    in all aspects of residential real-estate related transactions based on race or color, national origin, religion, sex, and other
    prohibited factors;

    ·
    The Servicemembers Civil Relief Act and Military
    Lending Act, providing certain protections for servicemembers, members of the military, and their respective spouses, dependents
    and others; and

    ·
    Section 106(c)(5) of the Housing and Urban Development
    Act requires making home ownership available to eligible homeowners.

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