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Aug272015

The new MONEY SERVICE BUSINESS ASSOCIATION – MSBA – is announced in the US

Associations, News & Comments

The organizing committee, in its first public announcement, stated: “The MSBA is a trade association focused on the non-bank money services industry, including licensed money transmitters and their agents/authorized delegates, payment card issuers and distributors, payment processors, international remittance companies, bill payment companies, mobile payment application providers, payment aggregators, virtual currency exchanges and administrators, eWallet providers…

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Aug262015

MTRA – The Money Transmitters Regulators Association

Associations, News & Comments

The Money Transmitters Regulators Association will hold its 25th Annual Conference in October 6-9 in Kansas City Missouri. This conference is mainly attended by regulators from all the states that license Non-Bank Financial Institutions that are required to obtain a license to offer their services to customers in their state. The Money transmitter industry is also present…

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May222014

Access to Banking Services by Money Transfer Institutions

De-Risking

The problem

We can’t say that the access to banking accounts problem is new in the Money Transfer Industry, not in the USA or a number of other countries. It was one of the reasons why the NMTA was formed back in 1996, David Landsman, Executive Director, reminds us every now and then. So why is this a such an urgent issue in 2014? I think the answer is that in the last decade a large number of small money transfer companies, with very little capital and minimal compliance structures were the first to go, now is the medium sized, larger companies, well funded, with large investments in technology and compliance the ones that are feeling the brunt. What should the industry do?

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