nonbank bank

A financial institution that either accepts demand deposits or makes commercial loans, but, unlike banks, does not do both at the same time and therefore can avoid federal regulations on bank ownership.

• Nonbank banks were esp. prolific in the 1980s, but amendments to the definition of a bank under federal law have essentially closed this loophole.

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词条贡献者

资深译员筠怡，国际知名法学院民商法专业，专注翻译各种与商业和侵权诉讼有关的法律文件。