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.)
Regulatory capital rules simplified
A joint press release from the Fed, FDIC, and OCC has announced a final rule that reduces regulatory burden by simplifying several requirements in the agencies' regulatory capital rules. The simplifications in the final rule only apply to banking organizations that do not use the "advanced approaches" capital framework, which are generally firms with less than $250 billion in total consolidated assets and less than $10 billion in total foreign exposure. The final rule will be effective as of April 1, 2020, for the amendments to simplify capital rules, and as of October 1, 2019, for revisions to the pre-approval requirements for the redemption of common stock and other technical amendments.