The Department of Banking was created by Nebraska legislators to regulate state-chartered banks and other financial industries within the state. In 1939, regulation of state securities laws was also placed under the jurisdiction of the Department of Banking. Today, the Nebraska Department of Banking and Finance regulates and supervises various financial industries on behalf of the State of Nebraska and its residents.
Written Comments Regarding Proposed Revisions to Statement of Policy (“SOP”) #33, “Electronic Terminal Access and Electronic Switching of Transactions.”
The Nebraska Department of Banking and Finance received ten written comments regarding proposed revisions to SOP #33. Those comments are provided in the Written Comments link below.
Proposed Revisions to Statement of Policy #33
Current Statement of Policy #33
Full AG Opinion
Department FY2014 Assessment
Bank assets under NDBF supervision have doubled since 2004 to $33 billion. Approximately 10% of that growth has been from conversion of nationally-chartered banks to state charter. As supervised assets increase and, absent any significant fluctuations in revenue or expenses, the rates at which we assess should decline. For FY2012, our rates declined about 6%. For FY2013, 15%. For FY2014, the decline will be 19%. Our hourly examination rate will remain at $50 per examiner hour.
Annual Assessment Notice
Department Receives AG Opinion Regarding Electronic Transaction Fees
The Nebraska Department of Banking and Finance requested an opinion of the Nebraska Attorney General’s Office (AG) to clarify allowed pricing for switch, automated teller machine, and point of sale transactions under the provisions of Neb. Rev. Stat. § 8-157.01. The Department is reviewing AG Opinion # 13-001 relative to Department Statement of Policy #33, “Electronic Terminal Access.” All depository financial institutions with a physical location in the State of Nebraska, approved switches, and parties of interest are being notified of the Opinion as well as the potential for a change in the Statement of Policy.
Links to the referenced SOP and AG Opinion follow:
Full AG Opinion
Statement of Policy #33
Nebraska Department of Banking and Finance Warns About Online Escrow Company
The Nebraska Department of Banking and Finance is warning Nebraska residents about an internet-based escrow company. Lincoln Closing and Escrow Services (“LCE”) claims to be based at 1248 “O” Street, Lincoln, Nebraska. The Department has determined that no such company is located at that location.
LCE claimed to be a licensed money transmitter and provided the consumer with a copy of a Sale of Checks and Funds Transmission license allegedly issued to it by the Nebraska Department of Banking and Finance. The license stated that LCE was a trade name of Skrill USA, Inc. (“Skrill”), a legitimate, licensed money transmitter. The license provided to the consumer was fraudulent. LCE is not licensed by the Department, nor is it affiliated with Skrill or any other licensed money transmitter.
(Full Press Release)
Nebraska Installment Sales NMLS Transition
The Department announces that effective April 15, 2013, NMLS will be used to manage Nebraska Installment Sales Act Licensees. For more information please click below:
Derivative Transactions Order
The 2010 Dodd Frank Wall Street Reform and Consumer Protection Act required that state laws regarding bank lending limits address certain credit exposures arising from use of derivatives. The 2012 Nebraska Legislature amended the bank lending limit statute accordingly. On December 14, 2012, Director John Munn signed an Order establishing the standards for derivative and securities financing transactions. The Order is effective January 21, 2013.
Residential Mortgage Licensing Act Forms Adopted
The Department has adopted forms related to nonprofit organizations offering services in areas regulated by the Residential Mortgage Licensing Act. The forms are the Application for Nonprofit Organization Certificate of Exemption, and the Annual Attestation for a Nonprofit Organization Certificate of Exemption. The Department has also issued a checklist to assist applicants in gathering appropriate information for the certificate process. The forms are issued under the authority of Section 45-703.01 of the Residential Mortgage Licensing Act.
Interpretative Opinion No. 26: Use of Certifications and Designations in Advertising by Investment Adviser Representatives and Broker-Dealer Agents
The Nebraska Department of Banking and Finance, Bureau of Securities issues an interpretative opinion regarding the use of designations in advertising by investment adviser representatives and broker-dealer agents. The Department periodically reviews the list of designations.
Read Interpretative Opinion & Approved Designations (6-30-2013)
To receive email notification when updates are made to the list of designations, please click here.
Current NDBF News Releases (2010-2012)
News Release Archives (2007-2009)
Effective August 19th, 2013, We have moved to:
Nebraska Department of Banking & Finance
1526 K Street, Suite 300
Lincoln, NE 68508-2732
P.O. Box 95006
Lincoln, NE 68509-5006
Financial Institutions Division:(402)471-2171
Bureau of Securities:(402)471-3445
Governor of Nebraska
Mortgage & Foreclosure Help Resources
File a Complaint
Community Development Investment
Copying Charges for Public Records
Conversion to State Charter
Filing Requirements for Securities Regulation D
Mortgage Lenders Licensing
Search Regulated Industries
Search Securities Filings
Annual Assessment Notice