Non-bank lending or “shadow banks” continues to happen without sufficient regulations, according to the International Monetary Fund (IMF).

At times this non-bank lending can be an arrangement as simple as one friend lending to another.

It could also be a more complicated chain of agreements that offer large groups of people high rates of return at higher risks with the potential to cause bankruptcy.

To find out more about this issue Jocelyn Frank spoke with Adair Turner a former chairman of the United Kingdom’s Financial Services Industry who believes that regulation is the best way forward for non-bank credit.

Duration: 4’55”