Dutch Firm Buys PCi

Wolters Kluwer Corporate & Financial Services, Amsterdam, has reported the acquisition of PCi Corp., a Boston-based provider of lending compliance systems, for an undisclosed amount.The Netherlands-based Wolters Kluwer Corporate & Financial, a division of Wolters Kluwer NV, said the acquisition expands the line of compliance systems offered by its subsidiary Bankers Systems Inc. and Bankers Systems' subsidiary, VMP Mortgage Solutions Inc. PCi Corp. will continue to operate in Boston, as a subsidiary of Bankers Systems. PCi's systems relate to fair-lending laws, the Community Reinvestment Act, the Home Mortgage Disclosure Act, and flood hazard determination, among other things. "The focus on Fair Lending, CRA, HMDA, and predatory-lending compliance is increasing, and failure to deal with the issues can result in stiff fines and penalties," said Bob White, president and chief executive officer of Bankers Systems and Wolters Kluwer Financial Services. "PCi Corp. understands these complex compliance issues better than any provider in the industry." The companies can be found online at http://www.wolterskluwer.com, http://www.bankerssystems.com, and http://www.pciwiz.com.