Definition of nonbank
: a business that is not an officially established bank but offers many similar services
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Recent Examples of nonbank from the Web
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Canada has repeatedly tightened rules on banks, only for borrowers to turn to nonbanks.
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Many auto lenders, including banks, nonbanks and the finance arms of car manufacturers, have been offering more loans with longer terms.
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Gilbert also disputes claims that nonbanks are under-regulated.
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Unlike banks, nonbank lenders typically don’t rely on branches or ties to local agents, which are traditional tools for capturing mortgage purchases.
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Loss of market share and profitable sources of income has weakened banks, and consumers are hurt by being driven to more expensive nonbank lenders.
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In sturdy financial systems, nonbanks help fill gaps left by banks.
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Today, that number has more than flipped: Nonbanks originate 73 percent of the loans, with banks' share dropping to 18 percent.
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
Law Dictionary
nonbank
legal Definition of nonbank
: being, done by, or involving some entity other than a bank
- nonbank lenders
- a nonbank depositor
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nonbanking
adjectiveLearn More about nonbank
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