Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
Early bond redemption authority expanded
Federal Reserve Bank Services has updated its earlier announcement to savings bond agents serving Texas counties affected by Hurricane Harvey authorizing the early redemption of Series EE and I savings bonds less than one-year-old presented during the months of August, September, and October 2017. This authorization pertains not only to bond owners still residing in affected areas, but also to those who evacuated from those areas. The list of counties affected has been expanded to include Aransas, Bee, Brazoria, Calhoun, Chambers, Colorado, Fayette, Fort Bend, Galveston, Goliad, Hardin, Harris, Jackson, Jasper, Jefferson, Kleberg, Liberty, Matagorda, Montgomery, Newton, Nueces, Orange, Refugio, Sabine, San Jacinto, San Patricio, Victoria, Waller, and Wharton. Agents should not require evidence of hardship but must continue to abide by guidelines in the Guide to Cashing Savings Bonds and savings bond processing instructions provided through FRBservices.org. This authorization will remain in effect through the end of October 2017.
In addition, TreasuryDirect account holders in or evacuated from the affected areas can request a waiver of the one-year holding period for savings bonds by sending an email from within the account explaining their circumstances. Bond redemption agents who are asked for help from TreasuryDirect account holders because they are unable to access their accounts have been asked to obtain the account holders' names and contact information, including daytime telephone numbers, and relay the information via email to firstname.lastname@example.org.