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.)
Taiwanese bank to pay $29M CMP for AML violations
The Federal Reserve Board has announced it has issued a consent cease and desist order and a $29 million penalty against the U.S. operations of Mega International Commercial Bank Co., Ltd., of Taipei, Taiwan, for anti-money laundering violations and required the firm to improve its anti-money laundering oversight and controls. For further details, see "Mega International Commercial Bank pays $29M BSA penalty," in our Penalty pages.