45-749 Information sharing; privilege and confidentiality; limitations; applicability of section; director; powers. - Nebraska Statutes

45-749. Information sharing; privilege andconfidentiality; limitations; applicability of section;director; powers.(1) In order to promote more effective regulationand reduce the regulatory burden through supervisory information sharing:(a) Except as otherwise providedin this section, the requirements under any federal or state law regardingthe privacy or confidentiality of any information or material provided tothe Nationwide Mortgage Licensing System and Registry, and any privilege arisingunder federal or state law, including the rules of any federal or state court,with respect to such information or material, shall continue to apply to suchinformation or material after the information or material has been disclosedto the Nationwide Mortgage Licensing System and Registry. Such informationand material may be shared with all federal and state regulatory officialswith mortgage industry oversight authority without the loss of privilege orthe loss of confidentiality protections provided by federal or state law;(b) Information or material that is subjectto a privilege or confidentiality under subdivision (1)(a) ofthis section shall not be subject to:(i) Disclosure under any federalor state law governing the disclosure to the public of information held byan officer or an agency of the federal government or the respective state;or(ii) Subpoena or discovery,or admission into evidence, in any private civil action or administrativeprocess, unless with respect to any privilege held by the Nationwide MortgageLicensing System and Registry with respect to such information or material,the person to whom such information or material pertains waives, in wholeor in part, in the discretion of such person, that privilege;(c) Any state statute relatingto the disclosure of confidential supervisory information or any informationor material described in subdivision (1)(a) of this section thatis inconsistent with such subdivision shall be superseded by the requirementsof this section; and(d) This section shall notapply with respect to the information or material relating to the employmenthistory of, and publicly adjudicated disciplinary and enforcement actionsagainst, applicantsand licensees that is included in the Nationwide Mortgage LicensingSystem and Registry for access by the public.(2) For these purposes,the director is authorized to enter into agreements or sharing arrangementswith other governmental agencies, the Conference of State Bank Supervisors,the American Association of Residential Mortgage Regulators, or other associationsrepresenting governmental agencies as established by adopting and promulgatingrules and regulations or by order of the director. SourceLaws 2009, LB328, § 34; Laws 2010, LB892, § 18.