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.)
Former Ohio branch manager banned from industry
The Federal Reserve Board has issued a consent order of prohibition and order to cease and desist to a former Fremont, Ohio, bank branch manager who, according to the order, embezzled approximately $266,039 in cash from bank tellers' drawers between 2009 and June 2018. Under the order, she and another party must fully comply with a payment agreement with the bank requiring reimbursement of the misappropriated funds in monthly installments.