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.)
Mnuchin chairs FATF meeting
A meeting in Washington D.C. of the ministers of the Financial Action Task Force (FATF) was chaired by Treasury Secretary Mnuchin. He stated, “Since its inception thirty years ago, the FATF has been at the forefront of efforts to combat money laundering. This Minister-level meeting reaffirmed our collective commitment to protect the integrity of the international financial system. FATF is a dynamic, agile, and enduring body that continues to take concrete steps to harden the international financial system, as criminals, terrorists, and rogue nations actively attempt to exploit any weak links. I am pleased that we decided today on a permanent mandate for the FATF, and that we gave further focus on its work against terrorist and proliferation finance. Because of the importance Ministers ascribe to the FATF, we also agreed upon Minister-level meetings every two years moving forward.” The ministers agreed on an open-ended Mandate for the FATF and its role leading global action to counter money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.