This legislative bill seeks to amend various sections of the Nebraska Revised Statutes concerning banking and finance, with a focus on modernizing regulations and aligning them with federal law. Key provisions include the introduction of new definitions that allow entities with pending applications for charters or licenses to temporarily use terms like "bank" or "trust," provided they cease such usage if their applications are denied or withdrawn. The bill also modifies loan limits, clarifies depositor rights, and establishes penalties for violations, classifying them as Class V misdemeanors. Additionally, it updates regulations regarding automatic teller machines (ATMs), point-of-sale terminals, and the operation of building and loan associations, ensuring compliance and fair access for consumers.

Further amendments address the establishment of digital asset depositories and credit unions, outlining their operational requirements and investment powers. The bill mandates that digital asset depositories maintain their main offices in Nebraska and comply with the federal Bank Secrecy Act, while credit unions are granted broader investment capabilities and must hold public hearings for branch applications. It also revises surety bond requirements for mortgage bankers and updates consumer rental purchase agreements to align with federal standards. Overall, the bill aims to enhance consumer protection, streamline banking operations, and strengthen the regulatory framework governing financial institutions in Nebraska.

Statutes affected:
Introduced: 8-113, 8-135, 8-141, 8-143.01, 8-157, 8-157.01, 8-183.04, 8-226, 8-305, 8-318, 8-355, 8-1101, 8-1101.01, 8-1506, 8-1704, 8-1707, 8-2724, 8-2903, 8-3005, 8-3007, 21-1725.01, 21-1728, 45-190, 45-724, 59-1722, 69-2103, 69-2104, 69-2112, 76-710.02