The bill amends various sections of Nebraska law, primarily focusing on the Nebraska Money Transmitters Act and the Nebraska Installment Loan and Sales Act. It introduces significant changes, including the redefinition and elimination of certain terms, updates to licensure requirements, and enhanced regulatory oversight for money transmission businesses. Key insertions include the addition of "and Sales" to the Nebraska Installment Loan Act, reflecting a broader scope, while several outdated provisions are deleted to streamline the regulatory framework. The bill also clarifies definitions related to stored value and payment systems, establishes new operational guidelines for licensees, and enhances the authority of the Director of Banking and Finance to conduct examinations and investigations.

Additionally, the bill outlines new requirements for licensees under the Nebraska Installment Loan and Sales Act, including detailed application processes, financial reporting obligations, and consumer protection measures. It mandates that licensees provide clear written notices to borrowers, maintain minimum net worth, and comply with specific guidelines regarding fees and interest rates. The bill also introduces penalties for non-compliance, including administrative fines and the potential for liens on assets. Overall, the amendments aim to modernize and enhance the regulatory framework governing financial transactions and consumer protections in Nebraska, ensuring a more robust and transparent lending environment.

Statutes affected:
Introduced: 8-319, 8-330, 8-601, 8-820.01, 44-1703, 45-101.04, 45-334, 45-335, 45-336, 45-337, 45-338, 45-339, 45-340, 45-341, 45-342, 45-343, 45-344, 45-345, 45-346, 45-347, 45-348, 45-350, 45-351, 45-352, 45-353, 45-354, 45-355, 45-356, 45-702, 45-703, 45-705, 45-729, 45-734, 45-804, 69-2103, 76-2711
Final Reading: 8-319, 8-330, 8-601, 8-602, 8-820.01, 8-2701, 8-2702, 8-2703, 8-2704, 8-2705, 8-2706, 8-2707, 8-2708, 8-2709, 8-2710, 8-2711, 8-2712, 8-2713, 8-2714, 8-2715, 8-2716, 8-2717, 8-2718, 8-2719, 8-2720, 8-2721, 8-2722, 8-2723, 8-2724, 8-2725, 8-2726, 8-2727, 8-2728, 8-2729, 8-2730, 8-2731, 8-2732, 8-2733, 8-2734, 8-2735, 8-2736, 8-2737, 8-2738, 8-2739, 8-2740, 8-2741, 8-2742, 8-3025, 8-3027, 44-502, 44-1703, 44-4109.01, 45-101.04, 45-334, 45-335, 45-336, 45-337, 45-338, 45-339, 45-340, 45-341, 45-342, 45-343, 45-344, 45-345, 45-346, 45-347, 45-348, 45-350, 45-351, 45-352, 45-353, 45-354, 45-355, 45-356, 45-702, 45-703, 45-705, 45-729, 45-734, 45-804, 69-2103, 76-2711
Slip Law: 8-319, 8-330, 8-601, 8-602, 8-820.01, 8-2701, 8-2702, 8-2703, 8-2704, 8-2705, 8-2706, 8-2707, 8-2708, 8-2709, 8-2710, 8-2711, 8-2712, 8-2713, 8-2714, 8-2715, 8-2716, 8-2717, 8-2718, 8-2719, 8-2720, 8-2721, 8-2722, 8-2723, 8-2724, 8-2725, 8-2726, 8-2727, 8-2728, 8-2729, 8-2730, 8-2731, 8-2732, 8-2733, 8-2734, 8-2735, 8-2736, 8-2737, 8-2738, 8-2739, 8-2740, 8-2741, 8-2742, 8-3025, 8-3027, 44-502, 44-1703, 44-4109.01, 45-101.04, 45-334, 45-335, 45-336, 45-337, 45-338, 45-339, 45-340, 45-341, 45-342, 45-343, 45-344, 45-345, 45-346, 45-347, 45-348, 45-350, 45-351, 45-352, 45-353, 45-354, 45-355, 45-356, 45-702, 45-703, 45-705, 45-729, 45-734, 45-804, 69-2103, 76-2711