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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.)

CFPB highlights servicemember complaints

The Bureau has released its 2018 Complaint Snapshot, with a national overview of servicemember complaints and complaint information by state. There were 33,984 complaints received in 2018, an increase of 12% over those received in 2017.

At the national level, the top five financial product complaints of servicemembers in 2018 matched those of non-servicemembers, with credit or consumer reporting at the top of the list (38% of all complaints), followed in order by debt collection, mortgage-related problems, credit cards, and checking or savings accounts. Within those products or services, the top issues reported were:

  • Credit or consumer reporting: Incorrect information on reports (54%)
  • Debt collection: Attempts to collect debts not owed (40%)
  • Mortgages: Trouble during payment process (45%)
  • Credit card: Problem with a purchase shown on statement (26%)
  • Checking or savings: Managing an account (58%)
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