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.)
OFAC targets senior IRGC commanders
Treasury announced yesterday that OFAC has taken action against eight senior commanders of Navy, Aerospace, and Ground Forces of the Islamic Revolutionary Guards Corps (IRGC). Those designations reinforce the President’s action in issuing an Executive Order imposing sanctions on the Supreme Leader of the Islamic Republic of Iran as well as the Supreme Leader’s Office. The President’s order will deny Iran’s leadership access to financial resources and authorizes the targeting of persons appointed to certain official or other positions by the Supreme Leader or the Supreme Leader’s Office. Moreover, any foreign financial institution that knowingly facilitates a significant financial transaction for entities designated under this Executive Order could be cut off from the U.S. financial system.
For identification information on these and others designated under the president's Executive Order, see BankersOnline's OFAC Update.