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.)
SCOTUS declines case on constitutionality of CFPB
The Hill reports that the U.S. Supreme Court has refused to hear a case challenging the constitutionality of the Consumer Financial Protection Bureau. The case was an appeal from the U.S. Court of Appeals for the District of Columbia decision to reject a challenge by The State National Bank of Big Spring, the Competitive Enterprise Institute and the 60 Plus Association to the constitutionality of the CFPB's structure as an "independent" agency.
The D.C. Circuit's decision to dismiss the case came after the court's full panel of judges had upheld the constitutionality of the Bureau's structure in another case.