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Can you summarize NERS 8-706?
BANKS AND BANKING > Examinations, reports of Director of Banking and Finance; may be furnished to other examiners.
Short Summary
This provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, allows the Director of Banking and Finance to provide copies of examinations and reports of banking institutions to specified entities. The entities include the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, the Consumer Financial Protection Bureau, and foreign state agencies, officials, and examiners. The Director is also required to disclose any information possessed by their office regarding the conditions or affairs of insured institutions. This provision does not limit the duty of banking institutions to comply with the provisions of the Banking Act of 1933 or the requirements of the Federal Deposit Insurance Corporation. Additionally, it does not limit the powers of the Director with respect to examinations and reports under existing law. The term ‘foreign state agency’ is defined as a regulatory or supervisory agency created under the laws of any other state, territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands, or operating under the code of law for the District of Columbia.
Whom does it apply to?
Director of Banking and Finance, Federal Deposit Insurance Corporation, Federal Reserve Board, Comptroller of the Currency, Consumer Financial Protection Bureau, foreign state agencies, officials, and examiners
What does it govern?
Furnishing examinations and reports of banking institutions to specified entities
What are exemptions?
None mentioned
What are the Penalties?
None mentioned
Jurisdiction
Nebraska