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.)
Parts of FDIC Procedures Manual released
FDIC FIL 38-2019, issued yesterday, announces the posting of sections of the FDIC Applications Procedures Manual (manual) to its website to provide greater transparency regarding the FDIC's internal processes. The manual provides direction for FDIC professional staff assigned to review and process applications, notices, and other requests (filings) submitted to the FDIC. This is the first in a series of releases that will eventually include the complete manual, and each subsequent release will include multiple sections governing specific filing types. The manual does not establish supervisory requirements and is not industry guidance.
- This initial release includes an Applications Overview section that addresses processing timeframes, filing receipt and acknowledgment, filing acceptance, review and evaluation of filing content, document preparation, delegations of authority, and other pertinent topics that are generally applicable to most types of filings.
- The release also contains separate sections covering certain specific filing types, including federal deposit insurance, mergers, change in control, branch establishment, branch relocation, and branch closings.
The manual will be updated periodically for changes in laws, regulations, or processes. Additional resources related to the filing process are available on the FDIC's website.