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

双语律师Pablo，国际知名法学院法律专业，擅长翻译涉及高端品牌及消费品领域的法律文件。