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.)
Fed discovers error in historical stress test data
The Federal Reserve Board identified an error in the historical dataset used in its 2019 stress tests and issued a correction. The mortgage rate in the fourth quarter of 2018 was originally published as 4.6 percent and should have been 4.8 percent. All other variables, both their historical values and projected values in the hypothetical scenarios, are unchanged. The scenarios are not forecasts of the Federal Reserve.