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.)
Venezuela-related designations, general licenses, and FAQs
OFAC has designated Banco de Desarrollo Economico y Social de Venezuela (BANDES), and any entity in which BANDES owns, directly or indirectly, a 50 percent or greater interest, for operating in the financial sector of the Venezuelan economy, following a determination by Secretary of the Treasury Mnuchin, in consultation with Secretary of State Pompeo, that persons operating in Venezuela’s financial sector may be subject to sanctions. OFAC amended a previously issued General License and four new Venezuela-related general licenses in connection with this designation. Two FAQs were also issued. Details regarding the Licensing changes, FAQs and the entities added to the SDN Lists are in a BankersOnline OFAC Update.
Separately, OFAC published a notice with several new Iran-related and non-proliferation designations. See BankersOnline's OFAC Update for details.