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.)
Treasury confirms participation in Same Day ACH
With the publication of a final rule, the Treasury has confirmed it will participate in Same Day ACH as of September 15, 2017. The rule, issued by Treasury's Fiscal Service Bureau, adopts NACHA rules changes that impose a fee on the Originator of an unauthorized entry. The Bureau has also agreed to accept the reporting requirement on return rate levels, and not to opt out of NACHA's requirement that Originators make a reasonable effort to notify a Receiver of reversing entries.