nonbank

noun, often attributive
non·​bank | \ ˌnän-ˈbaŋk How to pronounce nonbank (audio) \

Definition of nonbank

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

Examples of nonbank in a Sentence

Recent Examples on the Web The credit reporting agency sent the credit scores to several bank and nonbank lenders, including JPMorgan Chases & Co., Wells Fargo & Co. and Ally Financial Inc., from mid-March to early April, according to the Wall Street Journal. Sarah Elbeshbishi, USA TODAY, 4 Aug. 2022 Equifax sent the erroneous scores on people applying for auto loans, mortgages and credit cards to banks and nonbank lenders big and small—including JPMorgan Chase & Co., Wells Fargo & Co. and Ally Financial Inc., the people said. Andrew Ackerman, WSJ, 2 Aug. 2022 These nonbank lenders include firms like Quicken Loans, Rocket Mortgage, and Loan Depot, among many others. Ken Sweet, The Christian Science Monitor, 1 Aug. 2022 These nonbank lenders include firms like Quicken Loans, Rocket Mortgage and Loan Depot, among many others. Ken Sweet, ajc, 27 July 2022 Business borrowers are more likely to seek business loans, lines of credit, and cash advances at large or small banks than at nonbank lenders. Rohit Arora, Forbes, 30 June 2022 Wall Street investors poured billions of dollars over the past decade into nonbank lenders like Crédito Real, enticed by their high growth and profits. Alexander Saeedy, WSJ, 13 June 2022 An estimated $90 billion was withdrawn from the roughly 225,000 nonbank ATMs in the U.S. in 2020, according to the latest data from research and consulting firm RBR. Annamaria Andriotis, WSJ, 19 Feb. 2022 BaaS integration helps the nonbank companies increase their customer base since bank customers tend to trust their banks to take care of their finances in the long run. Ankit Agarwal, Forbes, 26 Apr. 2022 See More

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.

First Known Use of nonbank

1935, in the meaning defined above

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Time Traveler for nonbank

Time Traveler

The first known use of nonbank was in 1935

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Dictionary Entries Near nonbank

nonbacterial

nonbank

nonbanking

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Statistics for nonbank

Last Updated

7 Aug 2022

Cite this Entry

“Nonbank.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/nonbank. Accessed 9 Aug. 2022.

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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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