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Can you summarize NERS 8-2731?
BANKS AND BANKING > Supervisory information sharing; information and material; how treated; applicability; director; powers.
Short Summary
This legal document pertains to the sharing of supervisory information and material for effective regulation and reduced regulatory burden. It states that the privacy and confidentiality requirements under federal or state law continue to apply to information and material disclosed to the Nationwide Mortgage Licensing System and Registry. However, such information and material can be shared with federal and state regulatory officials without losing privilege or confidentiality protections. Any state statute inconsistent with this provision is superseded. The document does not apply to certain information related to employment history and disciplinary actions, which is accessible to the public. The director is authorized to enter into agreements or sharing arrangements with other governmental agencies and associations. No penalties are mentioned in this document.
Whom does it apply to?
Nationwide Mortgage Licensing System and Registry, federal and state regulatory officials with money transmitter industry oversight authority
What does it govern?
Supervisory information sharing; information and material; how treated; applicability; director; powers
What are exemptions?
Information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, applicants and licensees that is included in the Nationwide Mortgage Licensing System and Registry for access by the public
What are the Penalties?
No penalties mentioned
Jurisdiction
Nebraska