Bill > LB836

This bill modifies existing Nebraska laws concerning the financial oversight of banks and other financial entities. It clarifies the Director of Banking and Finance's authority to conduct examinations, including by electronic means, and allows the department to accept examinations from federal agencies like the Federal Deposit Insurance Corporation (FDIC) and the Consumer Financial Protection Bureau (CFPB) in lieu of its own. The bill also adjusts how assessments, which are fees levied on these entities based on factors like asset size or transaction volume, are calculated and collected. These assessments, along with other fees and costs for examinations and investigations, are deposited into the Financial Institution Assessment Cash Fund, which is used to administer and enforce relevant banking laws. Importantly, any investment earnings from this fund will now be credited to the state's General Fund. The bill also outlines penalties for non-payment of these assessments and fees, including potential fines and suspension or revocation of licenses, while allowing the Director discretion for installment payments.

Business and Industry

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63127