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Latinos and the future of finance


Over the last several years, two important economic trends in the United States have become intertwined. This first is the rise of the Latino community as an economic force, as the demographic rapidly expands across the country while still facing barriers to wealth-building and opportunity that other groups do not. The second is the exploding popularity of financial technology, or “fintech”.

Today, Latinos are embracing fintech at high rates compared to other groups, yet a stark absence of data and research is preventing policymakers and other stakeholders from understanding the technology’s impact on this critical segment of the population. READ MORE AT BROOKINGS

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A discussion about Hispanic Heritage Month



National Hispanic Heritage Month is annually celebrated from Sept. 15 to Oct. 15 for recognizing the contributions and influence of Hispanic Americans to the history, culture and the achievements of the United States. As the Hispanic population continues to grow in Florida, we take a look at how state, county and local communities are working to integrate and celebrate this growing population. VIEW VIDEO DISCUSSION AT SPECTRUM NEWS 13

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Latino economy growing faster than the rest of nation


The economic impact of Latinos in the United States has been growing at more than double the rate of the overall U.S. economy, according to the latest Latino GDP report, released Wednesday by a team of researchers from California Lutheran University and UCLA.

It’s the first time in the report’s history the figure has climbed above $3 trillion. If Latinos in the U.S. were a nation, its economy would be the fifth largest in the world, bigger than that of the United Kingdom, India or France. READ MORE AT VC STAR

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The U.S. Postal Service today kicked off Hispanic Heritage Month (Sept. 15-Oct.15) with new festive Piñatas! stamps at the 36th Annual Piñata Festival. These Forever stamps come in four designs — two donkeys and two seven-pointed stars — celebrating the traditional Mexican fiesta favorite. This is the third consecutive year the Postal Service has issued a Hispanic-themed stamp. In September 2021, USPS issued Day of the Dead stamps, and in July 2022, USPS issued Mariachi stamps. News of the stamps is being shared with the hashtag #PinatasStamps. READ MORE AT USPS

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20 cities with the most Hispanics


California, Texas, Florida, Arizona and New Mexico are the states with the highest Hispanic population. These states also have the highest concentration of Latino-owned businesses. In California, 85,000 of the total 764,000 businesses are owned by Hispanics or Latinos, which is equivalent to over 11% of all businesses in the state. These businesses provide jobs to an estimated 670,000 people and contribute $25 billion towards the state economy. These figures were shared by the Latino Policy and Politics Institute in August 2023. READ MORE AT YAHOO FINANCE

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25 National Hispanic Heritage Month facts


Hispanic Heritage Month runs from September 15 to October 15 every year. It was started in 1968 and has become a national celebration that includes arts festivals and music events from New York to Los Angeles. How did Hispanic Heritage Month start? What famous Hispanic Americans are celebrated today? And what is this year’s theme? Find out the answers to these questions and more. READ MORE AT WE ARE TEACHERS

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Si Dios Quiere Syndrome


Few words have soured for me like the word “toxic.” Paired with words like “masculinity,” it might sound like it’s saying something, but I’m not actually convinced it says much beyond “this broad category of social behavior is bad, just trust me.” But when the question “Do Chicanos have a toxic gratitude problem?” was posed to me, it landed in an interesting way, perhaps because it’s something I’ve long suspected to be true but was never sure if it applied to any experiences beyond my own. I still don’t like the term “toxic gratitude.” I’d rather call it something cooler, like “Si Dios Quiere Syndrome.” Much better. Regardless, the question still stands: Do Chicanos, or, I suppose one could also ask, do Latinos in the U.S. have a gratitude problem? In other words, are we too content with scraps? READ MORE AT LA TIMES

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Nike is honouring Latino Heritage Month with special edition sneakers.The sportswear giant is putting out its Air Max 1 ‘Familia’ on the heels of the release of its ‘Puerto Rico’ pair in June, which dropped in time for the National Puerto Rican Day Parade.

It’s Latino Heritage Month (LHM) edition is painted in vibrant colours to reflect the energy and festivity of the Latin American population. READ MORE AT THE HOMETOWN REGISTER

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As patterns of immigration from Latin America change, Venezuelans have now become the fastest-growing Latino group in the U.S., according to the report, which also noted that immigrants make up a declining share of Latinos in the country.

Between 2010 and 2021, the Venezuelan population in the U.S. increased by 169%, from roughly 240,000 to 640,000, researchers found.. Dominicans and Guatemalans followed with growth rates of 60% each.

While Mexicans remain the largest Latino origin group, they had the slowest growth rate — 13%. READ MORE AT THE LA TIMES

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Crossing the stage and graduating is not an easy task, and for Latino students it seems to be even more difficult, as the education gap between Latino and white, non-Hispanic students has widened within the last four years.

A recent report by Excelencia in Education, a Washington, D.C.-based nonprofit that promotes Latino student achievement, shows that the number of Latino students enrolled in colleges is up but the graduation rate has not seen an increase. READ MORE AT THE LOS ANGELES TIMES

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From the get-go, Puerto Rican director Àngel Manuel Soto understood the responsibility and pride of making history with "Blue Beetle" (in theaters Friday), DC's first Latino-led superhero movie.

"We never get this chance to tell stories like this," he says. "Much less, to show us as heroes to the world (and) in a cinematic universe that's so followed and in a genre that includes us as sidekicks at best." READ MORE AT USA TODAY

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Hispanic American financial institutions were created to provide services to low-income and minority communities, particularly Hispanic American communities. Historically, Hispanic Americans have been affected by discriminatory lending practices like redlining and experienced limited economic opportunities to build wealth.

Hispanic American banks were founded in areas where minority communities lived. These financial institutions were able to connect with their local communities and fill the banking gap by addressing areas like language and culture. READ MORE AT INSIDER

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Who owns America’s businesses?


As the U.S. population has become more diverse, so has ownership of the nation’s businesses. There were more Hispanic-owned businesses overall and more minority-owned businesses in various sectors in 2020 than a decade earlier, according to the Census Bureau’s 2021 Annual Business Survey (ABS).

The diversity of business owners mirrors the changing profile of the nation’s population. The 2020 Census found that the population of nearly all race and ethnicity groups in the United States had grown since 2010 with the exception of the White alone population, which declined during the decade. READ MORE AT CENSUS.GOV

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Investing in stocks or opening retirement savings accounts has long been elusive for many Latinos, but social media and podcasts that offer culturally relevant financial coaching are turning that on its head. U.S. Latinos' economic power is growing, yet they are less likely than their non-Hispanic white counterparts to have savings, retirement and non-retirement investment accounts. READ MORE AT AXIOS

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Although the situation is improving, Latinos and especially Mexican Americans, remain very underrepresented in US health professions that require advanced degrees, according to a study published today in the journal Health Affairs. The study by George Washington University researchers is the first to examine the representation of the four largest Latino populations in the US health workforce and the findings raise concerns about the lack of diversity in the US health workforce. READ MORE AT MILKEN INSTITUTE SCHOOL OF PUBLIC HEALTH

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UnidosUS honors Latino community trailblazers


UnidosUS, the nation’s largest Latino civil rights and advocacy organization, honored five leaders and trailblazers tonight for creating meaningful change for the Latino community. UnidosUS President and CEO Janet Murguía presented the awards during the gala marking the conclusion of the organization’s 2023 Annual Conference in Chicago.

“These honorees personify the tenacity and fortitude it takes to make meaningful and enduring strides toward equity,” said UnidosUS President and CEO Janet Murguía. “These are the people who reflect the true fabric of our country. The leaders committed to ensuring the Latino perspective is woven into all parts of our society, whether it’s the media, community development, or activism.” READ MORE AT UNIDOSUS

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According to the 2019 Survey of Consumer Finances (SCF), significant wealth disparities exist between families of different races and ethnicities, including between white households and Hispanic/Latino households. White families have a median wealth of $188,200, whereas Hispanic families have a median wealth of $36,100. Another way to look at the SCF data is that the average white family has five times the wealth of the average Hispanic family. READ MORE AT BROOKINGS

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Latinos, as well as other underrepresented groups, often face significant challenges and barriers to pursuing higher education. In reality, racial disparities and discrimination persist in numerous aspects of society, especially in higher education. There are disparities in college enrollment rates, graduation rates, access to resources, and representation among faculty and staff members. READ MORE AT THE BOSTON GLOBE

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Latino Conservation Week kicks off this weekend with dozens of events in California and almost 300 meetups across the nation. The program started ten years ago with just 16 events, meant to get the Hispanic community outdoors and motivated to protect the environment.

Next month, the Hispanic Access Foundation will launch an air-quality monitoring program called "El Aire que Respiramos", which means "The air we breathe." It is a collaboration with the Environmental Protection Agency that will place air-monitoring equipment in Los Angeles, La Mirada, San Bernardino and Thermal. READ MORE AT PUBLIC NEWS SERVICE

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Radio is immensely popular among US Latinos. According to Nielsen, broadcast radio leads all other platforms in reaching Latino audiences on a monthly basis. In 2022, 97 per cent of US Latinos tuned in to radio each month, compared to 92 per cent of the general population. From 2017 to 2022, live TV viewership declined 13 per cent among Latinos to 84 per cent.

Spanish is also the US’s most common non-English language, spoken by nearly 50mn people in the country — 12 times greater than the next four most common languages, according to Census Bureau data. READ MORE AT FINANCIAL TIMES

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