Foreign Nonbank Financial Company [Banks & Banking] Law and Legal Definition

Pursuant to 12 USCS § 5311 (4) (A) [Title 12. Banks and Banking; Chapter 53. Wall Street Reform and Consumer Protection; Financial Stability], the term foreign nonbank financial company means “a company (other than a company that is, or is treated in the United States as, a bank holding company) that is--

(i) incorporated or organized in a country other than the United States; and

(ii) predominantly engaged in, including through a branch in the United States, financial activities, as defined in 12 USCS § 5311 (6).”