MORRIS PLAN BANK
A non-traditional bank that lends money to individual who cannot obtain loans spurned by mainstream banks. Established in 1910, Fidelity Savings & Trust Co. was the first Morris Plan bank with $20,000 in capital. There were 109 Morris Plan banks in 1931. However, the number sank after the economy recouped from the Great Depression and commercial banks started offering small loans. Today, there are more than 100 Morris plan banks all over the United States with an average loss on loans at less than 0.1%.
POPULAR TERMS
Half Stock
It has a par value 50% of what is considered normal. A typical share of stock has a par value of $100, so the par value of a half stock is $50. ...
Call Date
There is a particular date wherein a bond can be reclaimed before its maturity, this is called Call Date. If the issuer thinks there is an ad ...
SEC MEF Filings
SEC MEF Filings are filings whose purpose is for the additional registration of up to 20% more securities for a certain offering in accordance to S ...
Ordinary Loss
Ordinary loss is any loss incurred by a taxpayer but isn’t considered a capital loss. It may result from several causes, such as theft and ca ...
Capital Goods Price Index - CGPI
An economic index calculated by the New Zealand government that determines the alteration in fixed capital-asset amounts in the New Zealand economy ...
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