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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.)

FDIC Supervisory Highlights

The June 2019 issue of the FDIC's Consumer Compliance Supervisory Highlights includes a section with "Resources & Information for Financial Institutions" and an appendix of "Most Frequently Cited Violations and Enforcement Actions" to support supervised institutions' efforts to manage consumer compliance responsibilities effectively. In a section devoted to issues identified in examinations during 2018, the report lists:

  • Overdraft Programs: Debit Card Holds and Transaction Processing
  • Real Estate Settlement Procedures Act (RESPA) Section 8 Violations
  • Regulation E – Mistakes Made in the Consumer Liability/Error Resolution Process
  • Skip-A-Payment Loan Programs
  • Lines of Credit – Finance Charge Calculation and Disclosure
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