Change provisions relating to applicants and licensees under the Nebraska Money Transmitters Act and prohibit money transmission by foreign adversary persons
Provisions/portions of LB1063 amended into LB838 by AM2326
Summary
LB1063 amends the Nebraska Money Transmitters Act to require all license applicants and existing licensees to certify they are not owned, controlled, or directed by persons from designated foreign adversary countries. The director of Banking and Finance must collect detailed ownership, financial, and control information and may revoke a license if a foreign‑adversary connection is found. The change is intended to protect Nebraska consumers and state security from risks associated with foreign‑controlled money‑transfer services.
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