nonbank

American  

[non-bangk, non-bangk] / ˈnɒnˈbæŋk, ˈnɒnˌbæŋk /

noun

1. an institution that is not a bank but engages in certain banking bank practices, as lending money or holding deposits.

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adjective

1. of, relating to, or handled by a nonbank.

   nonbank loans.

Etymology

Origin of nonbank

First recorded in 1945–50; non- + bank ²

Example Sentences

These are nonbank lenders to small- and middle-market companies.

From MarketWatch

These nonbank lenders now handle most U.S. home loans.

From The Wall Street Journal

Unlike traditional banks, nonbank mortgage companies lack safety nets like the ability to take out emergency government loans during a crisis.

From The Wall Street Journal

During the pandemic, for instance, borrowers with bank servicers were more likely to receive forbearance on their mortgage payments than those with nonbank servicers, Bowman said in a speech Monday.

From The Wall Street Journal

Isaac Boltansky, head of public policy at Pennymac, said nonbank lenders have successfully navigated volatile interest-rate cycles.

From The Wall Street Journal