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.)
2017 debit card transaction data released
The Federal Reserve Board has issued a report on debit card transactions in 2017, including information on volume and value, interchange fee revenue, certain issuer costs, and fraud losses. During 2017, payment card networks processed 68.5 billion debit and general-use prepaid card transactions valued at $2.62 trillion in the United States. Dual-message networks, which have traditionally processed mainly signature-authenticated transactions, accounted for 64.9 and 65.1 percent of the total by volume and value, respectively. Single-message networks, which typically process PIN-authenticated transactions, accounted for the rest. Total transaction volume grew 5.6 percent from 2016 to 2017, slower than the 7.0 percent growth recorded from 2015 to 2016.
The report is the fifth in a series published every two years pursuant requirements of the Electronic Fund Transfer Act (EFTA).