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TeachMeFinance.com - explain non-bank bank non-bank bank -- slang for a kind of financial institution that in the 1980s did not meet the legal definition of a commercial bank, and thus avoided the prohibition against branching across state lines. It avoided being classified as a commercial bank by not engaging in one of the two lines of business cited in the law to define commercial banks; demand deposits or commercial loans. It may have offered a range of bank services but engaged in only one of the two activities that legally defined a commercial bank. The non-bank bank loophole was closed by the Competitive Equality Banking Act of 1987. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.