The MTRA Board of Directors had a strategic planning retreat in Austin Texas last month for the purpose of defining MTRA’s mission, objectives/ goals, and devise strategies to meet them over the next five years. The meeting was facilitated by J. Keith Hughey of Wilson, Hughey & Yarbrough, LLC, a management consulting firm, and hosted by Texas Banking Commissioner Randall James. The mission of MTRA, as formulated by the Board, is “to advance the efficient and effective regulation of the money transmission industry”. It was agreed that the core values needed to meet MTRA’s mission are cooperation, integrity, service, and excellence. The Board’s vision for the next five years is the establishment of a cooperative state regulatory framework for the benefit of the member states, the industry and the public. Such a regulatory framework will be established by (a) advancing uniform examination standards, reports, forms and ratings that are crucial in providing value to both the membership and the industry; (b) promote a more efficient and less burdensome state regulatory system that has universal respect and credibility; (c) provide quality educational opportunities and certification to participants through a well defined curriculum: (d) collect and disseminate reliable industry specific data , common analytical standards, and best practices: (e) serves as the authority for money transmission issues on a national scale; and (f) partner with state and federal authorities to further efforts in the direction and elimination of illegal activities, including terrorist financing.