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.)
NCUA amends regs on loans to members
The NCUA Board has published [84 FR 10971, 3/25/2019] amendments to its regulations regarding loans to members and lines of credit to members to reduce regulatory burden, improve clarity, and make compliance easier. The amendments are designed to make the NCUA's regulations more user friendly by identifying in one section all of the various maturity limits applicable to federal credit union loans, stating that the maturity date for a new loan under generally accepted accounting principles is calculated from the origination date of the new loan, and more clearly expressing the limits for loans to a single borrower or group of associated borrowers. The amendments to 12 CFR 701 will be effective in 30 days, on April 24, 2019.