1. nonbank - Noun
2. nonbank - Adjective
nonbank (not comparable)
Not a bank
Many mortgages originate with nonbank lenders.
nonbank (plural nonbanks)
An institution, especially a financial institution, which is not a bank
Also of concern is that the majority of the securities are held by nonbank institutions, which makes it more difficult to track exactly who holds CLO debt. Source: Internet
To reiterate, the SSA’s exclusion of industries like telecommunications and nonbank lenders allows the continued creation of synthetics with potentially devastating results to the U.S. economy. Source: Internet
But the coronavirus crisis has demonstrated that there’s still a lot to do in the nonbank part of the financial system. Source: Internet
Seventy-two percent would seriously consider banking with a nonbank business, such as a telecommunications, retail or shipping/postal business, and more than a third would consider banking with a major technology firm, such as Google or Amazon. Source: Internet