State of Nebraska: Department of Banking and Finance

Nebraska Department of Banking and Finance; Images from Nebraska banknotes issued in the 1800s.

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Officials Issue Warning About Internet Lending Scams (2-25-08) Recent complaints to the Nebraska Department of Banking and Finance against Internet-based lending companies have prompted the Department to issue a warning to consumers about Internet lending scams. The Department is receiving a growing number of complaints on Internet-based cash advance companies, known as delayed deposit services in Nebraska and elsewhere as payday lenders, and Internet-based consumer loan companies. Read News Release Munn to Join Federal Banking Council (2-22-08) John Munn, Director of the Nebraska Department of Banking and Finance,has been elected chair of the State Liaison Committee of the Federal Financial Institutions Examination Council (FFIEC) and will serve as a voting member of the Council. The Council was established by Congress in 1979 to create a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions. Read News Release Kearney-Based Company Ordered to Stop Soliciting Investors (11/14/07) The Nebraska Department of Banking and Finance, in carrying out its regulatory authority under the Securities Act of Nebraska, has issued a Cease and Desist Order against Country Depot, Inc., 3810 Avenue A. Suite G, Kearney, Neb., and to Dennis Pace, its President, its officers and employees. Country Depot sells shares of stock and solicits investors for proposed retail stores specializing in tractor and farming supplies. The company allegedly planned to operate multiple stores, with the first store to be located in Kearney. The company solicited potential investors in Nebraska and other states. View the news release Read the Administrative Order NDBF Joins Nationwide Mortgage Licensing System(9/18/07) NDBF today announced that starting on January 2, 2008, the Department will join several states across the country in participating in the Nationwide Mortgage Licensing System (NMLS) developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. The goal of the NMLS is to streamline and improve the licensing of mortgage lenders, brokers and servicers that hold licenses in multiple states. View the news release Bruning, Munn File Action Against Alleged Predatory Lender (9/14/07) Attorney General Jon Bruning and John Munn, Director of the Nebraska Department of Banking and Finance (NDBF), announced that the State is suing Omaha-based Advantage Mortgage Service, Inc., a mortgage brokerage firm, and its principal owners and operators for predatory lending practices. The NDBF is also instituting license revocation proceedings. View the news release Read the Administrative Order Read the Court Filed Complaint Cease & Desist Order Issued to Nebraska Internet Payday Lender (8/29/07) The Nebraska Department of Banking and Finance (NDBF) has issued an Order to Cease and Desist against SFS, Inc., doing business as One Click Cash, located at 52946 Highway 12, Suite 3, Niobrara, Nebraska, from operating as an Internet delayed deposit services business. According to Department records, One Click Cash does not have a license to operate a delayed deposit services business in the state. Delayed deposit services businesses are commonly referred to payday lenders. View news release Consumer Advisory on Foreclosure Rescue Services (8/22/07) Nebraska Department of Banking and Finance Director John Munn issued a consumer advisory today urging Nebraskans facing the possibility of foreclosure on a home mortgage to be cautious when working with foreclosure rescue consultants and companies. Recent inquiries to the Department regarding foreclosure have prompted Department officials to warn Nebraskans of the potential risks associated with foreclosure rescue services. View the press release Consumer Alert On Mortgage Payment Increases (7/10/07) Nebraska Department of Banking and Finance Director John Munn today issued this consumer alert urging homeowners with adjustable rate mortgages especially those with nontraditional mortgages to plan now for any scheduled recasts or resets of interest rates in the year ahead. Non traditional mortgage loans and many subprime loans frequently feature a recast (or reset) with a significant payment increase. View the press release Click here for News Archives

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