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.)
NCUA prohibition notices issued
The National Credit Union Administration announced on Friday, December 29, it had issued one prohibition order and two notices of prohibition in December 2017. Three individuals are prohibited from participating in the affairs of any federally insured financial institution:
- a former employee or institution-affiliated party of New Haven County Credit Union in North Haven, Connecticut, who had agreed and consented to the issuance of a prohibition order and agreed to comply with all of its terms to settle and resolve the NCUA Board’s claims against him.
- a former employee of Harrison District No. 2 Federal Credit Union in Colorado Springs, Colorado, who had earlier pleaded guilty to the charge of theft, and had been sentenced to four years in prison and three years’ probation.
- a former employee of IBM Southeast Employees Credit Union in Delray Beach, Florida, who had pleaded guilty to the charge of theft, embezzlement or misapplication by a credit union employee, and had been sentenced to 63 months in prison, three years’ supervised release, and ordered to pay more than $1.7 million in restitution.