Non-Bank Lenders
These institutions are not banks, but either extend loans, securitize bank loans or otherwise play roles in the extension of credit, long-term or short-term. Some may have chosen to reorganize themselves as bank holding companies as a strategic move to weather the credit crisis of 2007-08, by which means they become eligible for federal capital infusions aimed at shoring up the banking sector.
American Express
American Express is a leading credit card and travel services company. Decades of aggressive advertising have made it one of the leading international brand names across all industries. American Express also regularly appears on surveys of the best companies to work for.
American Express is a leading credit card and travel services company. Decades of aggressive advertising have made it one of the leading international brand names across all industries. American Express also regularly appears on surveys of the best companies to work for.
Chrysler Financial
Chrysler Financial is a separate corporate entity owned by the same private equity firm, Cerberus Capital, that owns the Chrysler automotive corporation.
Chrysler Financial is a separate corporate entity owned by the same private equity firm, Cerberus Capital, that owns the Chrysler automotive corporation.
Credit Unions
Credit unions are non-profit cooperative financial institutions owned by and operated for the sole benefit of their members. Credit unions fill a role similar to that of banks, taking in deposits and making loans.
Credit unions are non-profit cooperative financial institutions owned by and operated for the sole benefit of their members. Credit unions fill a role similar to that of banks, taking in deposits and making loans.
Factoring
Factoring is a financing option in which firms raise cash either by selling their accounts receivable at a discount or by pledging their receivables as collateral for a loan.
Factoring is a financing option in which firms raise cash either by selling their accounts receivable at a discount or by pledging their receivables as collateral for a loan.
Fannie Mae
Fannie Mae is the Federal National Mortgage Association, or FNMA, chartered in 1938 to increase the supply of mortgage credit by buying mortgages from banks. Mounting worries about its solvency led to a 2008 takeover by the Federal Housing Finance Agency (FHFA). An aggressive new CEO is working swiftly and decisively to clean up the organization and restore its creditworthiness.
Fannie Mae is the Federal National Mortgage Association, or FNMA, chartered in 1938 to increase the supply of mortgage credit by buying mortgages from banks. Mounting worries about its solvency led to a 2008 takeover by the Federal Housing Finance Agency (FHFA). An aggressive new CEO is working swiftly and decisively to clean up the organization and restore its creditworthiness.
Federal Home Loan Banks
The Federal Home Loan Banks are a source of low-cost funding for financial institutions engaged in mortgage, small business and agricultural lending. Established by Congress in 1932, the Federal Home Loan Banks are cooperative institutions owned and managed on behalf of member financial institutions.
The Federal Home Loan Banks are a source of low-cost funding for financial institutions engaged in mortgage, small business and agricultural lending. Established by Congress in 1932, the Federal Home Loan Banks are cooperative institutions owned and managed on behalf of member financial institutions.
Ford Credit
Ford Credit (also known as Ford Motor Credit) is the financing arm of the Ford Motor Company. Its sole business is making loans to facilitate the purchase of vehicles produced by Ford and its subsidiaries.
Ford Credit (also known as Ford Motor Credit) is the financing arm of the Ford Motor Company. Its sole business is making loans to facilitate the purchase of vehicles produced by Ford and its subsidiaries.
Freddie Mac
Freddie Mac, the Federal Home Loan Mortgage Corporation, or FHLMC, is chartered to increase the supply of mortgage funding by purchasing mortages from banks. After being taken under direct federal control on September 7, 2008, new management is working hard to clean up organizational problems and restore fiscal integrity.
Freddie Mac, the Federal Home Loan Mortgage Corporation, or FHLMC, is chartered to increase the supply of mortgage funding by purchasing mortages from banks. After being taken under direct federal control on September 7, 2008, new management is working hard to clean up organizational problems and restore fiscal integrity.
GE
General Electric, or GE, is a major player in the financial industry through its GE Commercial Finance and GE Money business lines, often collectively referred to as GE Capital in the press.
General Electric, or GE, is a major player in the financial industry through its GE Commercial Finance and GE Money business lines, often collectively referred to as GE Capital in the press.
GMAC
GMAC is a major lending institution that has expanded beyond its original market in automotive finance to include also real estate financing, insurance, commercial financing and online banking.
GMAC is a major lending institution that has expanded beyond its original market in automotive finance to include also real estate financing, insurance, commercial financing and online banking.
Industrial Loan Companies
Industrial loan companies are subsidiaries of larger corporations whose main purpose is to facilitate sales of the parent companies' products by extending loans to customers. As a result, industrial loan companies function in a manner very similar to banks.
Industrial loan companies are subsidiaries of larger corporations whose main purpose is to facilitate sales of the parent companies' products by extending loans to customers. As a result, industrial loan companies function in a manner very similar to banks.
Peer to Peer Lending
Peer to peer lending (or P2P) involves online platforms for matching borrowers and lenders, circumventing the banks. Crowd funding is a related phenomenon discussed here.
Peer to peer lending (or P2P) involves online platforms for matching borrowers and lenders, circumventing the banks. Crowd funding is a related phenomenon discussed here.
Sallie Mae
Sallie Mae, the Student Loan Marketing Association, or SLMA, manages the world's largest portfolio of student loans, and is a major provider of Section 529 educational savings accounts. Originally created by Congress, it is now a completely independent for-profit corporation. Its subsidiaries include Upromise, best known for a program that obtains funding for education through rebates on select product purchases.
Sallie Mae, the Student Loan Marketing Association, or SLMA, manages the world's largest portfolio of student loans, and is a major provider of Section 529 educational savings accounts. Originally created by Congress, it is now a completely independent for-profit corporation. Its subsidiaries include Upromise, best known for a program that obtains funding for education through rebates on select product purchases.