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Morris Plan bank

American  

noun

  1. a private banking organization, formerly common in the U.S., designed primarily to grant small loans to industrial workers.


Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

In 1910 Arthur J. Morris, lawyer of Norfolk, Va., founded the first "Morris Plan" bank there.

From Time Magazine Archive

Two savings banks, one of them taking some commercial accounts, one Morris Plan bank, a commercial bank and one small state "Thrift Bank" were open under restrictions.

From Time Magazine Archive

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