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.)
FTC rescinding several FCRA model forms
The Federal Trade Commission has published at 84 FR 23471 in today's Federal Register a final rule rescinding several Model Forms and Disclosures issued under the Fair Credit Reporting Act (“FCRA”) that it has determined are no longer necessary. Given the CFPB's 2018 updates to its model forms and disclosures, the Commission determined that rescinding several of its model forms and disclosures would reduce confusion. The Commission also made conforming amendments to address references to the updated model forms and disclosures in related rules.
The amendments, which are effective today, remove current appendices A and D through H in 16 CFR part 698, redesignating current appendices B (Model Forms for Risk-Based Pricing and Credit Score Exception Notices) and C (Model Forms for Affiliate Marketing Opt-Out Notices) as appendices A and B. Today's final rule includes a table of rescinded 16 CFR part 698 appendices and the corresponding CFPB appendices taking their place.