New Nebraska law lifts licensing requirements for bankers

March 29, 2017

LINCOLN, Neb. (AP) — A new state law will lift licensing requirements for Nebraska banking and credit union executives.

Gov. Pete Ricketts signed the measure Wednesday as part of a larger overhaul of the state’s banking laws. The last major changes were made in 1963.

The bill would allow banks to opt out of licensing their executive officers and credit unions to opt out of licensing their loan officers.

Sen. Brett Lindstrom of Omaha, the Banking, Commerce and Insurance Committee chairman, says the licensing requirement is not imposed on federal banks or bank officers in any other state. He says the measure would also increase oversight of executive officers.

Ricketts touted the measure as a piece of his effort to eliminate regulations. Lawmakers passed it with a 48-0 vote.