Latinos launch bank to meet growing wealth needs

“Financial services for Latinos may mean money wires and store credit to many, but a group of wealthy Latinos says it is time to take banking for their fast-growing community to a more sophisticated level.

Together with non-Latino investors they will soon launch Promerica Bank, the first Latino bank in 35 years in California, home to America’s largest Hispanic population and a powerful magnet for immigrants from south of the border.”

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