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.)
CFPB proposes student loan servicing data collection
The CFPB has published in today's Federal Register a notice and request for comment on a proposed new information collection, "Student Loan Servicing Market Monitoring." The Bureau would require quarterly data collection on aggregated student loan servicing metrics and borrower outcomes from and estimated ten student loan servicers. The order for the data is intended to help the Bureau carry out its market monitoring goals and is pursuant to the Bureau’s market monitoring authority under the Dodd-Frank Act. Comments are due by October 6, 2017.