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.)
White paper on synthetic ID fraud
The Federal Reserve's FedPayments Improvement Task Force has released Synthetic Identity Fraud in the U.S. Payment System—A Review of Causes and Contributing Factors, a white paper on the growing problem of synthetic identity fraud in the U.S. payment system. The paper is a compilation of insights from Federal Reserve and industry subject matter experts. It’s intended to be a resource for industry professionals on the current state of synthetic identity fraud, including the scope of the issue, causes, contributing factors and its impact on the payments industry.