NDBF Temporarily Suspends Examinations

March 25, 2020

Statement from Nebraska Department of Banking and Finance regarding Examinations of Financial Institutions during the COVID-19 Emergency

For all Nebraska State chartered, licensed, and supervised depository and non-depository financial institutions:

• The Nebraska Department of Banking and Finance (Department) will temporarily cease all regular examination activity effective March 25, 2020, except where the examination work is critical to safety and soundness, consumer protection, or is required to address an urgent or immediate need.

• The Department will reassess its approach to examinations on April 24, 2020 or when the emergency has concluded, whichever is sooner.

• The Department’s action will allow financial institutions to prioritize working with their customers during the COVID-19 emergency.

• The institution may elect to move forward with a Department examination if it has previously provided a majority of the requested information; however, the determination to proceed will be left up to the institution.

• The Department’s action to temporarily cease examinations follows federal regulators such as the FDIC and Federal Reserve Bank.

• Additional time will be granted to resolve non-critical existing supervisory findings.

• Please contact Greg Freese at greg.freese@nebraska.gov with examination questions regarding banks, credit unions, or trust companies or Scott Peter at scott.peter@nebraska.gov for examination questions of mortgage companies, delayed deposit services, installment loan companies, and money transmitters.  Both can also be reached at the Department’s main phone number: 402-471-2171.