Money Transmitter Regulators Association (MTRA)

The Money Transmitter Regulators Association (MTRA) is a national non-profit organization in the United States dedicated to the efficient and effective regulation of the money transmission industry. The organization's membership consists of state regulatory authorities responsible for overseeing money transmitters and sellers of traveler's checks, money orders, drafts, and other money instruments.

History and Structure

MTRA was incorporated in Texas in 1989. It is governed by a ten-member Board of Directors elected to serve two-year terms. This governance structure allows for consistent leadership and stability in promoting the organization's goals[1][2].

Core Values and Objectives

MTRA operates based on core values including Cooperation, Service, Integrity, and Excellence. The organization aims to establish a cooperative state regulatory framework that benefits both its member states and the industry as a whole. Key objectives include:

• Advancing Uniform Standards: MTRA promotes uniform examination standards, forms, and ratings essential for efficient regulation.
• Efficient Regulation: It strives for a more efficient and less burdensome regulatory system that garners respect and credibility.
• Education and Training: MTRA offers quality educational opportunities and certification programs for its members through a well-defined curriculum.
• Industry Data and Best Practices: The organization collects and disseminates industry-specific data, analytical standards, and best practices.
• National Authority: MTRA serves as a national authority and resource on money transmission issues, partnering with state and federal authorities to combat illegal activities, including terrorist financing[1][3].

Activities and Events

MTRA conducts annual conferences, which include educational sessions and forums where industry issues are discussed. Additionally, it hosts training programs specifically designed for examiners, enhancing their expertise in regulating money service businesses (MSBs)[4].

Anti-Money Laundering Efforts

One of MTRA's significant roles is educating both regulators and money transmitters on anti-money laundering (AML) obligations under the Bank Secrecy Act (BSA). The organization works closely with federal agencies like the Financial Crimes Enforcement Network (FinCEN) to improve regulatory environments for licensed MSBs while maintaining strict compliance standards[3].

EIN and Legal Status

MTRA is recognized as a non-profit organization with an Employer Identification Number (EIN) of 742571408, further solidifying its legal and operational status within the U.S. regulatory framework.