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.)
Bureau sues largest U.S. debt-settlement service provider
The CFPB announced yesterday it has filed a complaint in federal court against Freedom Debt Relief, the nation’s largest debt-settlement services provider, and its co-CEO Andrew Housser, for deceiving consumers. The CFPB alleges that Freedom charges consumers without settling their debts as promised, makes customers negotiate their own settlements, misleads them about its fees and the reach of its services, and fails to inform them of their rights to funds they deposited with the company.
Update, 7/9/2019: The CFPB announced 7/9/2019 that it had settled its suit against Freedom Debt Relief. See our Top Story.