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.)
McWilliams on oversight by financial regulators
In her testimony before the Senate Committee on Banking, Housing, Urban Affairs, FDIC Chairman Jelena McWilliams reported how the FDIC is working to ensure its regulated institutions are serving their communities and how its regulatory and supervisory efforts are strengthening the agency's oversight of depository institutions of all sizes. She discussed the financial needs of communities; minority depository institutions; streamlining the de novo application process; CRA; small-dollar lending; appraisal thresholds; regulatory efforts to strengthen the financial system; appropriately tailoring regulatory efforts; EGRRCPA; the Volcker Rule; the advance notice of proposed rulemaking on brokered deposits; community bank leverage ratios; stress tests; resolution planning; the role of guidance; supervisory efforts to ensure safety, soundness, and consumer protection; risk monitoring; leveraged lending; cyber threats; transparency; BSA/AML compliance' CAMELS ratings; reducing community bank examination burden; leveraging technology; modernizing the FDIC; and maintaining a diverse workforce.