MTRA’s 18th Annual Conference was held September 2-5, 2008 at Snow King Resort, Jackson Hole, Wyoming. More than 200 regulators and industry officials attended the four day event, representing 28 member states and numerous money transmitters across the country. The conference was opened by MTRA President Joseph E. Rooney of Maryland who outlined the objectives, goals and accomplishments of the association. Wyoming Commissioner Jeffrey C. Vogel welcomed the conferees to Wyoming and praised the record and achievements of MTRA. The conference included separate, as well as, joint sessions of regulators and industry representatives. In a closed session of regulators, there was a presentation from FinCEN and the IRS on Bank Secrecy Act issues emphasizing the need to improve cooperation between states and federal agencies.
This year’s theme was “Taking the High Road”. The program provided an opportunity to facilitate networking and the exchange of ideas and information between and among industry and regulators. There were timely presentations on Mobile Payments, Private Equity Investments in Money Transmitters, and Monitoring Agents of Money Transmitters. There was also a discussion of the FinCEN case against Sigue, LLC. Lastly, a panel consisting of FinCEN, the FDIC and Banco Popular North America officials lead a healthy discussion of what is being done to address the problem of closing bank accounts of money transmitters.
President Joseph E. Rooney announced that MTRA will hold a 5-day examiners’ school in the first quarter of 2009. The school’s core objective is to provide examiners and analysts in-depth and comprehensive examination procedures and concepts for intrastate and interstate examinations of money transmitters. It will help many states which do not examine money transmitters develop examination programs.
President Rooney thanked the MTRA Board of Directors and MTRA Administrator Susan Shermer for the organization of the conference. He also presented a commemorative plaque to Randall James, MTRA Vice President and Texas Banking Commissioner, who is retiring, and announced that Ms Stephanie Newberg, Deputy Commissioner, Texas Banking Department was appointed by the MTRA board to fill the remaining term of Mr. James. CSBS Chairman Timothy J. Karsky also presented a framed resolution from CSBS honoring Mr. James. Finally, President Rooney announced that the 2009 conference will be held at Stoweflake Resort & Conference Center, Stowe, VT – August 31-Sept 3, 2009.