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 enhancements to the powers of the Director of Banking and Finance. Notable insertions include the addition of "and Sales" to the Nebraska Installment Loan Act and the clarification that bank credit card rates are distinct from small loan rates. The bill also establishes new penalties for non-compliance, prohibits certain exclusions in insurance policies, and repeals outdated legal provisions, aiming to modernize and streamline financial regulations in the state.

Additionally, the bill enhances regulatory oversight by introducing comprehensive definitions, criteria for license control, and obligations for licensees regarding money transmission. It mandates detailed reporting requirements, including quarterly reports on authorized delegates and annual financial statements, while also allowing the director to conduct examinations and investigations. The bill further clarifies the conditions under which licenses may be suspended or revoked and establishes penalties for violations, including administrative fines. Overall, these amendments are designed to strengthen consumer protections, ensure compliance within the financial industry, and enhance the regulatory framework governing money transmission and installment loans in Nebraska.

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