A nonbank financial institution (NBFI) cannot accept deposits from the public as it does not have a full bank license, but it is a source of consumer credit. NBFIs include insurance firms and pawn shops.
Glossary Term
Glossary Term
A nonbank financial institution (NBFI) cannot accept deposits from the public as it does not have a full bank license, but it is a source of consumer credit. NBFIs include insurance firms and pawn shops.