IT Examiner School

Non-Depository The non-bank industry (or alternative financial services industry) includes many of the same activities conducted by banks The difference is that non-banks (or non-depositories) don’t typical have charters or accept deposits, and therefore are not required to carry deposit insurance Non-bank financial institutions (NBFIs) deliver products and services either directly to consumers or related to consumers’ use of those products and services

Most are supervised or regulated by state non-bank financial regulators

Non-Depository The four primary non-bank industry types under state supervision include: • Mortgage originators & servicers • Money Services Businesses (MSBs) • Consumer finance • Debt collectors