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Category Archives: Uncategorized

Record Number to Attend MTRA Five-Day Operations School

A record number of examiners have registered to attend MTRA’s five-day Operations School in San Francisco, California from March 30 – April 3, 2009.

FinCEN and IRS Release MSB BSA/AML Examination Manual

The Financial Crimes Enforcement Network (FinCEN) and the Internal Revenue Service (IRS) released today the MSB Bank Secrecy Act/Anti-Money Laundering Examination Manual (MSB BSA/AML Examination Manual). The manual’s release marks an important step forward in the effort to ensure the consistent application of the BSA to all Money Services Businesses.

MTRA Holds Another Successful Conference

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.

Newberg Appointment to MTRA Board

Stephanie Newberg, Deputy Commissioner, Texas Banking Department, has been appointed a member of the board of directors of MTRA to fill the unexpired term of Randal James, who announced his retirement at the end of August, 2008. Mr. James was vice president for the last three years. He was elected to the Board in 2003. Mr. James was honored by the board of directors of both MTRA and CSBS at the MTRA annual conference in September 2008 for outstanding services to both associations and for excellent public service. Stephanie Newberg is not a stranger to MTRA. She has been an active participant for a number of years. Stephanie joined the Department of Banking in November 1992 overseeing among other areas the regulation of money service businesses. She is also active on various BSAGAA committees. Stephanie is very excited about joining the board and contributing to the MTRA mission of advancing the efficient and effective regulation of the money transmission industry.

MTRA Intermediate Examiners School a Big Success

MTRA held a successful five-day intermediate examination school in Miami, Florida from April 21 – April 25, 2008. This five day, hands-on course was attended by 34 regulators from 17 states. The objective of the school was to offer the tools to become a proficient examiner, using MTRA joint examination procedures to evaluate money transmitters, and to provide networking opportunities with fellow state examiners. The school curriculum incorporated safety and soundness and compliance considerations in examining money transmitters, and the class used the MTRA rating system in simulated examinations. Students learned mining techniques using actual data to assure compliance with anti-money laundering laws and detect violations, and performed computer aided instruction and exercises.