nonbank

[ noun non-bangk; adjective non-bangk ]

/ noun ˈnɒnˈbæŋk; adjective ˈnɒnˌbæŋk /

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noun

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

adjective

of, relating to, or handled by a nonbank: nonbank loans.

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Origin of nonbank

First recorded in 1945–50; non- + bank²

However, financial regulators opened loopholes in Glass-Steagall during the 1980s and 1990s, allowing banks to engage in securities activities and permitting nonbanks to offer bank-like products.
Why it would be a huge mistake to allow Big Tech firms to acquire banks|jakemeth|November 26, 2020|Fortune
Requiring nonbanks to fund their operations with longer-term securities would eliminate the shadow bank business model, restore market discipline, and improve the stability of our financial markets.
Why it would be a huge mistake to allow Big Tech firms to acquire banks|jakemeth|November 26, 2020|Fortune
This cheap credit allowed the hedge funds and nonbank actors to keep their doors open.
How Jay Powell’s Coronavirus Response Is Changing the Fed Forever|Christopher Leonard|June 11, 2020|Time
Most repo borrowers were “nonbank actors” like hedge funds, according to Bank of America analyst Ralph Axel.
How Jay Powell’s Coronavirus Response Is Changing the Fed Forever|Christopher Leonard|June 11, 2020|Time

Five years ago, in 2004, the IRS granted the MF the right to be a nonbank custodian of IRAs.
The Bag Lady Papers, Part VII|Alexandra Penney|May 7, 2009|DAILY BEAST