People of color are paying more than twice the amount in banking fees than white Americans, a Bankrate survey found.
When asked about fees such as ATM, overdraft and routine service charges, Latinos are paying $14 a month on average for checking accounts at banks or credit unions, while Black adults report shelling out about $12 a month. White checking account holders said they are paying an average $5 per month. READ MORE AT NBC NEWS
The Hispanic population’s collective purchasing power is large and will get larger. But marketers can’t ignore the fact that many Hispanic consumers’ finances have taken a severe hit during the pandemic. A rebound to pre-pandemic conditions would still leave Hispanics with below-average income and wealth.
Despite the stereotype of Hispanics as urbanites, many live in suburbs and rely on cars to get around. This means car loan payments have been another pain point. In the Harvard/NPR/Robert Wood Johnson polling, 27% reported serious problems making those. READ MORE AT EMARKETER
Apple today announced that Monica Lozano, president and CEO of College Futures Foundation, has been elected to Apple’s board of directors. Lozano brings with her a broad range of leadership experience in the public and private sectors, as well as a long and storied track record as a champion for equity, opportunity, and representation.
Prior to joining College Futures Foundation, Lozano spent 30 years in media as editor and publisher of La Opinión, the largest Spanish-language newspaper in the US, helping shine a light on issues from infant mortality to the AIDS epidemic. She went on to become chairman and CEO of La Opinión’s parent company, ImpreMedia. Lozano continues to serve on the boards of Target Corporation and Bank of America Corporation. READ MORE AT APPLE
Arizona Hispanics’ buying power is expected to hit an all-time high at $57.3 billion by 2022. In the Phoenix region alone, about 310,000 Latinos plan to buy a vehicle over the next year. About 95,000 plan to purchase a home or condo.
These are just a few of the facts contained in the 2020 DATOS report, “The State of Arizona’s Hispanic Market,” which paints a telling portrait of Latinos’ growing economic power and influence in Arizona. READ MORE AT AZ BIG MEDIA
As 2020 comes to a close, the first Hispanic Commodore of the Chicago Yacht Club reflects on the last two years he has led the club, including during the pandemic.
Lou Sandoval is a groundbreaker. He is the first Hispanic to hold the post in the club's 145-year history and his tenure ends December 31, 2020.
Sandoval said he's grateful he can be an example for parents, including several of the club's staff members who are of Hispanic and African-American heritage.
"I stand as an opportunity for them to see that their children can aspire to something. In that, there's strength," Sandoval said.
Sandoval is a trailblazer, inviting others -- especially Latinos, to join his journey on the water. READ MORE AT ABC 7 CHICAGO