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 to ask for performance evaluations
The CFPB has announced it will issue a "call for evidence" to ensure the Bureau is fulfilling its proper functions to best protect consumers. The Bureau plans to publish a series of Requests for Information (RFIs) seeking comment on the Bureau's enforcement, supervision, rulemaking, market monitoring, and education activities. Acting Director Mick Mulvaney said, "Much can be done to facilitate greater consumer choice and efficient markets, while vigorously enforcing consumer financial law in a way that guarantees due process. I look forward to receiving public comments in response to this call for evidence and encourage all interested parties to participate."
In the first RFI, the Bureau will seek comment on Civil Investigative Demands, which are issued during an enforcement investigation.