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

译员Bernardine，毕业于英国顶尖的高级翻译学院，专注翻译各种与医疗保健及生命科学有关的法律文件。