This legislative bill amends various sections of the Nebraska Revised Statutes to modernize banking and finance regulations, ensuring alignment with federal standards. Key changes include the introduction of new definitions and modifications to provisions regarding the use of the term "bank," loan limits, and the handling of failing financial institutions. Notably, the bill allows entities with pending applications for relevant charters to temporarily use the term "bank," ceasing its use if their application is denied. It also clarifies conditions for loan extensions, particularly concerning livestock and other collateral, while enhancing depositors' rights and adjusting loan limits for corporations and individuals.

Additionally, the bill addresses regulations surrounding automatic teller machines (ATMs), branch banking, and the establishment of credit unions, including provisions for public hearings and compliance with anti-money laundering laws. It enhances protections for vulnerable adults against financial exploitation and introduces new compliance dates for certain provisions. The bill also proposes the repeal of several outdated sections of the Revised Statutes, emphasizing the urgency of these updates by stating that the bill will take effect immediately upon passage and approval. Overall, the amendments aim to strengthen consumer protection, clarify regulatory frameworks, and adapt to the evolving landscape of financial services 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
Final Reading: 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, 44-708, 45-101.04, 45-190, 45-724, 59-1715, 59-1722, 69-2103, 69-2104, 69-2112, 76-710.02
Slip Law: 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, 44-708, 45-101.04, 45-190, 45-724, 59-1715, 59-1722, 69-2103, 69-2104, 69-2112, 76-710.02