nonbank

noun, often attributive
non·bank | \ˌnän-ˈbaŋk \

Definition of nonbank 

: a business that is not an officially established bank but offers many similar services

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Other Words from nonbank

nonbanking \ˌnän-ˈbaŋ-kiŋ \ adjective

Examples of nonbank in a Sentence

Recent Examples on the Web

Quicken is the first nonbank to become the top retail mortgage lender since the 2008 financial crisis. Jc Reindl, USA TODAY, "How Quicken Loans passed up Wells Fargo to become nation's top mortgage lender," 1 June 2018 Canada has repeatedly tightened rules on banks, only for borrowers to turn to nonbanks. James Mackintosh, WSJ, "To Spot the Next Financial Crisis, Look Who Was Spared by the Last One," 26 Apr. 2018 Many auto lenders, including banks, nonbanks and the finance arms of car manufacturers, have been offering more loans with longer terms. Christina Rexrode, WSJ, "Auto Lenders Ramp Up Risk to Win More Customers," 10 June 2018 Gilbert also disputes claims that nonbanks are under-regulated. Jc Reindl, Detroit Free Press, "How Dan Gilbert has made Quicken Loans thrive in mortgage industry," 31 May 2018 Unlike banks, nonbank lenders typically don’t rely on branches or ties to local agents, which are traditional tools for capturing mortgage purchases. Christina Rexrode, WSJ, "Homeowners Ditch Refinancings as Mortgage Rates Rise," 26 Mar. 2018 Loss of market share and profitable sources of income has weakened banks, and consumers are hurt by being driven to more expensive nonbank lenders. William M. Isaac And, WSJ, "Regulators Can Help American Workers Get the Credit They Deserve," 26 Oct. 2017 In sturdy financial systems, nonbanks help fill gaps left by banks. Anjani Trivedi, WSJ, "China’s $20 Trillion Shadow Banking Business Won’t Be Easily Tamed," 17 Oct. 2017 Today, that number has more than flipped: Nonbanks originate 73 percent of the loans, with banks' share dropping to 18 percent. Julie Creswell, New York Times, "Quicken Loans, the New Mortgage Machine," 21 Jan. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'nonbank.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of nonbank

1935, in the meaning defined above

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Last Updated

19 Aug 2018

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Time Traveler for nonbank

The first known use of nonbank was in 1935

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More Definitions for nonbank

nonbank

adjective
non·bank | \ˌnän-ˈbaŋk\

Legal Definition of nonbank 

: being, done by, or involving some entity other than a bank nonbank lenders a nonbank depositor

Other Words from nonbank

nonbanking adjective

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