All Roll Calls
Yes: 225 • No: 0
NebraskaLB717109th Legislature 1st and 2nd SessionslegislatureWALLET
Adopt changes to federal law regarding banking and finance, change provisions relating to control of certain banks and trust companies, digital asset depository institutions, interest rates on certain loans, installment loans, mortgage loan originators, mortgage bankers, and the Nebraska Money Transmitters Act, and change references to the Nebraska Money Transmitters Act in the Controllable Electronic Record Fraud Prevention Act
Sponsored By: Mike Jacobson
Signed by Governor
Banking, Commerce and Insurance Committee
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Bill Overview
Analyzed Economic Effects
17 provisions identified: 4 benefits, 3 costs, 10 mixed.
When these changes start
The act takes effect when it is passed and approved. Some listed sections start three calendar months after this legislative session ends. All other sections start on their effective date.
Clear net-benefit check for loan refinances
When you refinance an installment loan or a home mortgage, the lender must tell you if it gives you a net tangible benefit. The lender must use a Director-approved worksheet and show the reasons. Examples include a lower rate or payment, a shorter payoff time, switching to a fixed rate, removing balloon or negative amortization, cash out bigger than costs, avoiding foreclosure, or dropping mortgage insurance.
Small payroll firms exempt from transmitter license
A payroll processor is exempt from money‑transmitter licensing if it has fewer than 20 staff for the service or serves fewer than 50 Nebraska employees. The firm and key people cannot have a felony or a revoked financial or professional license. The firm also cannot do other money transmission. This saves qualifying small payroll providers licensing and compliance costs.
Loans over $100,000 escape interest cap
When you owe $100,000 or more to one lender, your loans are exempt from the state interest‑rate limit. The threshold was $125,000 and is now $100,000. Borrowers between $100,000 and $125,000 may face higher allowed rates.
Installment loans: definition and 145‑month cap
Loans to consumers with rates over the state maximum now fall under the installment‑loan law. The old six‑month and $25,000 limits are removed. All installment loans (except those secured by mobile homes) are capped at 145 months. This can limit long‑term interest but may raise monthly payments for very long loans.
New rules to open and run crypto banks
The law sets a $10,000,000 minimum capital to charter a digital‑asset depository and requires a surplus equal to three years of costs. It must be a Nebraska corporation, keep its main office and CEO’s office in Nebraska, and cannot take fiat demand deposits or make fiat loans or overdrafts. These depositories can open branches in and outside Nebraska (following the host state’s laws) and may serve individuals and lawful business entities only. They are exempt from a prior deposit cap and can apply for Federal Reserve membership.
Digital asset banks must share community efforts
Digital asset depositories must keep a public file that shows how they serve local needs. It must be available on request and online or in an app. The file must cover data reporting, complaint policies, and financial‑literacy or personal‑finance efforts.
Updated check rules to fight elder fraud
Banks use the January 1, 2026 versions of federal check and funds‑availability rules when they suspect a check could help exploit a vulnerable adult. This guides when a bank can delay or refuse payment to protect the account holder.
Licenses and reports for crypto kiosks
Kiosk operators must hold a Nebraska Money Transmitters Act license to run or advertise kiosk transactions. Each kiosk must be reported as an authorized delegate. Operators must send a quarterly form within 45 days listing all kiosk wallet addresses. The law adds clear definitions for kiosk, wallet, transaction hash, and related terms.
Money transmitters follow 2026 federal rules
Nebraska’s Money Transmitters Act now uses federal laws and rules as they stood on January 1, 2026. This includes the Bank Secrecy Act, remittance rules, and other listed federal laws. Transmitters must update compliance to match that 2026 baseline.
Stronger checks and insurance for crypto accounts
To open an account, you must provide ID and ownership details so the depository meets anti‑money‑laundering rules. Business customers must be in good standing and doing lawful business. The depository can issue accounts only if it keeps the insurance the law requires. Any U.S. dollars linked to your account must be held at an FDIC‑insured bank. Depositories must run Bank Secrecy Act programs that meet federal standards.
New rules for payment network switches
Any switch operating in Nebraska must file a notice each year by September 1 and file 30 days before starting operations. The notice must include the firm’s name, address, and an officer’s contact. The Department cannot regulate switch fees under this section.
Franchise sales: exemption and $100 filing
If a franchise sale follows the federal Franchise Rule as of January 1, 2026, it is exempt from the Seller‑Assisted Marketing Plan Act. The seller must file a notice with the Department and pay a $100 filing fee for each notice.
New oversight and remote work for mortgage originators
A mortgage loan originator must work for just one Nebraska‑licensed company, and that company is responsible for the originator’s actions. The Department can set rules that allow originators and other staff to work remotely outside a branch. This raises accountability while giving firms clear paths to use remote work.
Old banking and credit laws repealed
The law repeals several named Nebraska banking and credit statutes and one UCC section. These repeals take effect as provided in the act and are part of a statutory cleanup and alignment. The real‑world effect depends on each repealed section.
Align state finance rules to 2026 federal law
Nebraska ties many banking, securities, and transfer rules to federal standards as of January 1, 2026. This includes insider‑lending, EFTA rights and ATM surcharge notices, securities and commodities definitions, and the federal definition of “bank.” Credit unions get parity with federal powers as of January 1, 2026 and keep state tax duties. People exempt from SEC broker‑dealer registration under Section 15(b)(13) are not broker‑dealers under state law. The Credit Union Act’s employee‑benefit‑plan reference also updates to 2026.
Cyber emergencies and faster bank control reviews
Cybersecurity events now count as emergencies for certain banking rules. When a substantially complete notice to acquire control is filed, the Director must act within 30 days. The law also adds credit unions and trust companies to the definition of “financial institution,” so rules using that term now apply to them.
Sponsors & Cosponsors
Sponsor
Mike Jacobson
Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
legislature vote • 2/20/2026
Final Reading
Yes: 48 • No: 0 • Other: 1
legislature vote • 2/9/2026
Vote
Yes: 30 • No: 0 • Other: 19
legislature vote • 1/27/2026
Vote
Yes: 41 • No: 0 • Other: 8
legislature vote • 1/27/2026
Vote
Yes: 38 • No: 0 • Other: 11
legislature vote • Unknown
Vote
Yes: 38 • No: 0 • Other: 11
legislature vote • Unknown
Vote
Yes: 30 • No: 0 • Other: 19
Actions Timeline
Approved by Governor on February 25, 2026
2/25/2026legislaturePresented to Governor on February 20, 2026
2/20/2026legislaturePresident/Speaker signed
2/20/2026legislaturePassed on Final Reading with Emergency Clause 48-0-1
2/20/2026legislatureDispensing of reading at large approved
2/20/2026legislaturePlaced on Final Reading
2/17/2026legislatureAdvanced to Enrollment and Review for Engrossment
2/9/2026legislatureJacobson AM1890 adopted
2/9/2026legislatureKauth FA346 withdrawn
2/9/2026legislatureEnrollment and Review ER105 adopted
2/9/2026legislatureJacobson AM1890 filed
1/30/2026legislatureEnrollment and Review ER105 filed
1/30/2026legislaturePlaced on Select File with ER105
1/30/2026legislatureAdvanced to Enrollment and Review Initial
1/27/2026legislatureJacobson AM1746 adopted
1/27/2026legislatureJacobson AM1746 filed
1/27/2026legislaturePlaced on General File
1/21/2026legislatureNotice of hearing for January 20, 2026
1/9/2026legislatureReferred to Banking, Commerce and Insurance Committee
1/9/2026legislatureKauth FA346 filed
1/8/2026legislatureDate of introduction
1/7/2026legislature
Bill Text
Introduced
1/7/2026
Enrolled / Slip Law
Final / Enacted
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