: a business that is not an officially established bank but offers many similar services
Example Sentences
Recent Examples on the WebBob Broeksmit, head of the Mortgage Bankers Association, which represents nonbank lenders, said his group welcomed the review. Andrew Ackerman, WSJ, 31 Aug. 2022 On the contrary, Sens. Warren, Sanders, and others called for tighter controls on nonbank lenders to push more lending activity into the banking system. Brian P. Brooks And Charles W. Calomiris, WSJ, 23 Aug. 2022 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 See More
Word History
First Known Use
1935, in the meaning defined above
Legal Definition
nonbank
adjective
non·bank
ˌnän-ˈbaŋk
: being, done by, or involving some entity other than a bank