News (Noticias) Tagged ‘Banking’

The DVD set, titled “Nuestro Barrio” — Spanish for “our neighborhood” — contains 13 episodes that present financial information in a telenovela, or soap opera, format. The Spanish-language miniseries about Hispanic life in the United States aims to provide education and entertainment, or “infotainment,” on varying issues including banking and home ownership.”*

An Ecuadorean television station owner is seeking asylum in the United States following the confiscation of his business, a U.S. official said Wednesday.

The State Department is reviewing the asylum request of Estefano Isaias after Ecuadorean banking officials last week seized TC Television and nearly 200 other businesses owned by or allegedly linked to the Isaias family, said Linda Jewell, U.S. ambassador to Ecuador.”*

Banorte, Mexico’s fifth-largest banking group, is not for sale, its chief executive said, amid renewed speculation that the bank could become the target of a takeover.”*

Today, Vibra Bank announces the successful close of its Initial Public Offering and the Grand Opening of its headquarters in Chula Vista.

Just six months after announcing its IPO, and nearly 200 investors later, Vibra Bank has raised $14.8 million in capital. Well in excess of the minimum required to open, this capital reflects the strong support that exists for Vibra Bank’s concept of a bi-cultural community bank with a focus on serving businesses in Chula Vista, the South Bay and the entire San Diego region.

Vibra Bank will hold its Grand Opening on July 23, 2008, at its headquarters located at 530 Broadway in Chula Vista. Mayor Cheryl Cox and representatives from the Latino and South Bay business community will be on hand for a special ribbon cutting ceremony at 10 a.m., followed by food and festivities.

“This is an exciting day for Chula Vista,” said Mayor Cox. “Vibra Bank is a unique bi-cultural community bank that will be a great asset to the residents and businesses of Chula Vista. We’re thrilled to welcome them to the neighborhood.”

Howard B. Levenson, Vibra Bank Investor and Board Member agreed, noting the San Diego community has gone without a bi-cultural bank for over 20 years. “This has been a long time

coming - and the fact that they’ve been able to accomplish this under the current market conditions is a testament to the strength of this venture.”

“Vibra Bank is different from other banks because we’re able to offer our customers a personalized banking experience to meet their specific needs.” said Vibra Bank President and CEO Scott Parker. “We’re committed to providing our customers with first class service that changes the way they view the customer/banker relationship. We want them to succeed and we’ll do everything we can to help them move forward.”

Vibra Bank will offer customers a wide range of services to meet their needs, including online banking and remote deposit (www.vibrabank.com). In addition, Vibra Bank is expected to generate a full range of loan products, while focusing on loans to businesses and business owners.

Their commercial and industrial lending products will include both secured and unsecured credit lines, term credit for fixed asset purchases, letters of credit and loans that qualify under the SBA guaranty programs. Commercial real estate lending products will include loans on retail, industrial and office properties. Vibra Bank will also offer carefully selected construction financing. A variety of consumer financing products will also be available to customers.

Based upon an initial capital level of $14.8 million, the Bank’s lending limits can comfortably accommodate maximum credits to one borrower of approximately $3 million on a secured basis or $1.8 million on an unsecured basis. Loans which exceed the Bank’s legal lending limit may be extended if participation agreements are in place with Vibra’s correspondent banks or with other community banks in order to sell a portion of the loan and reduce the Bank’s exposure. Vibra Bank will not engage in subprime single-family residential lending.

Vibra Bank’s board includes notable names from the San Diego and Latino business and banking community, including Enrique Schon, Chairman of Vibra Bank’s board and Founder of Mexico’s Banco Mifel and President SARSAP, a major Tijuana commercial real estate development firm; former San Diego Police Chief David Bejarano; Howard B. Levenson, former Chairman and CEO of Western Financial Corporation/Co-Founder Southwest Community Bank; Jeffrey Davidow, President of the Institute of the Americas and former United States Ambassador to Venezuela and Mexico; Luis Maizel, Senior Managing Director and Co-Founder of LM Capital Management and LM Advisors, the second-largest Hispanic money management company in the United States; Max Freifeld, partner in Prediales Atenas S.A. de C.V., a real estate investment company, and partner, board member and consultant for Autos Orientales, S.A. de C.V., a Nissan automobile dealership in Mexico, and also Founder and former Director of Hipotecaria Nacional and Hipotecaria Vanguardia; Maru Davila, Chair of the Board and Chief Executive Officer of Corporacion de Telecommunications Regionales, a telecommunications company she founded in Mexico; and Gershon Jaffe, Certified Public Accountant and Chief Financial Officer of Jaffe Finance Company, LLC, which specializes in asset-based financing and leasing for professionals. “*

Dr. Octavio N. Martinez Jr., a professor and clinical psychiatrist with experience in finance and banking, has been appointed executive director of the Hogg Foundation for Mental Health at The University of Texas at Austin.

Martinez was selected following a national search for a successor to Dr. King Davis, who resigned as executive director in May to return to teaching full time in the university’s School of Social Work. Martinez will take office on Aug. 11 as the fifth executive director and the first Hispanic to lead the foundation since it was created in 1940. Martinez also will hold an academic appointment in the School of Social Work.”*

A statement to the Spanish stock exchange regulator on behalf of a company called Blueprime said it had already signed a deal with one Popular investor, represented by Spanish investor Trinitario Casanova, to acquire a 3.5 percent stake for 14.20 euros per share.

“No other agreements have yet been signed, although agreement is close to being finalized with a number of other shareholders with whom we are in advanced negotiations,” the statement added.”*

According to the Alabama Latino Association, Latino population increased 247 % in the last decade. Many Hispanics in the Wiregrass area are active with jobs in construction, food service, and agriculture.

The Wiregrass area is home to about 50,000 Latinos and the numbers are on the rise.

Some Hispanic residents need help obtaining banking privileges.”*

Chase is using its new advertising campaign to reach out to Hispanic consumers with a straightforward message: “Chase. Juntos Se Puede” Chase. Together We Can.

The campaign builds on both Chase’s expanded capabilities to serve Latinos’ banking needs and its Chase What Matters campaign of focusing on what matters most to customers.

“Our commercials show how Chase can help in situations that Hispanic consumers have experienced both in the United States and in their home country,” said Rebeca Vargas, head of the multicultural segment at Chase. “We are also using traditional music in Spanish – including a cha-cha-cha — to deliver culturally relevant messages.”

The campaign, which began June 11, will raise Chase’s visibility as a partner “socio” for Latino consumers to provide consumers with the tools and guidance to better manager their money and achieve their financial goals

The nearly 45 million Latino community is the largest minority and fastest-growing group in the United States.

The two TV commercials use the same dramatic black-and-white approach as the broader Chase What Matters campaign, but the stories were developed specifically for Hispanics:

“Bodeguero” shows a frustrated young Latino who can’t make a purchase at a local bodega because he doesnt have the exact change. Chase shows how its debit card provides access to a customer’s money anytime and everywhere. The spot promotes a Chase checking account that is free when consumers make five debit card purchases in a statement period. The spot’s music is “El Bodeguero” by Orquesta Aragon.
“Letter” shows a Latino man opening a letter bearing bad news: He has overdrawn his bank account by overspending on gifts and dates with his girlfriend. At the end of the spot, he slyly uses his cellphone to check his bank account balance before entering a nice restaurant with his girlfriend. The music used in the spot is Nelson Ned’s “Me pasé de la cuenta” — “I spent more than I should have.”

“Our ‘Letter’ commercial uses humor to show consumers how easy it is to use Chase’s mobile banking to help manage their money,” Vargas said. “It’s relevant to talk to Latinos about this service because they or someone they know may have experienced overdrafts.”

The campaign also includes three radio commercials – focusing on the following topics:

Mobile banking, which also allows customers to request alerts about activity in their accounts;
Free checking with debit card usage, and
Chase as the partner “socio” that is ready to help Latinos to better manage their finances.

This new advertising campaign leverages recent improvements Chase has made for Latino consumers:

The introduction of account-opening documents in Spanish for those customers who select Spanish as their language of preference. Half of all Latinos prefer to discuss their finances in Spanish.
The creation of Rapid Cash, a free money remittance service that allows Chase consumers to send money to Mexico from their Chase checking accounts. In 2007, Mexicans in the United States sent an estimated $23 billion to Mexico.

“We want to become the financial institution of choice for Latinos at all stages of their lives,” Vargas said. “We want consumers to see Chase as the bank that they can trust and with whom they can partner to achieve their financial goals for themselves and their families”

Chase worked with Lapiz Leo Burnett, one of the largest advertising agencies in the United States, to create the TV and radio ads. Log onto www.chase.com/espanol/comerciales to view the ads.”*

Last week, Wal-Mart de Mexico announced it is the company with the best corporate governance in Mexico and the fourth best in Latin America according to Spanish consulting company Management and Excellence (M&E) which rates 50 non-banking sector companies in the region. In the group, there are 25 Brazilian companies and 14 Mexican companies.

The study uses metrics from the Organization for Economic Co-operation and Development (OECD), the Dow Jones Sustainability Indexes, the New York Stock Exchange (NYSE) and the Sarbanes-Oxley Act (SOX) to evaluate several corporate governance subjects such as board of director’s responsibility, shareholders’ rights, audit committees’ guidelines, transparency practices and the use of good governance policies.

“Integrity is above anything else in Wal-Mart de Mexico. We understand that the only way to pass on our value proposition to our customers, meet shareholders’ expectations, foster associate growth, and contribute towards improving the quality of life for Mexican families is having good corporate governance, one that is ethical, disciplined, transparent and efficient. Being considered the company with the best corporate governance in Mexico is a huge responsibility, and a challenge to continue generating value for Mexico,” said Raul Arguelles, Sr. VP for Corporate Affairs and People Division for Wal-Mart de Mexico.

This is the second time Wal-Mart de Mexico has been recognized by M&E as a leading company in Mexico. In May 2007, WMM was named the company with the highest sustainability, governance and corporate social responsibility in Mexico. Also, WMM is the only Mexican company among the first ten companies in this field in Latin America

With these initiatives Wal-Mart de Mexico reaffirms its commitment to improve the quality of life for Mexican families.

Committed to a better Mexico

Wal-Mart de Mexico S. A. de C.V. (BMV: WALMEX) is a retail company whose vision is to contribute towards improving the quality of life for Mexican families. It has several business formats, including self-service stores (Bodega Aurrera, Wal-Mart Supercenter and Superama), membership warehouse clubs (Sam’s Club), apparel stores (Suburbia) and restaurants (Vips, El Porton and Ragazzi), amounting to 1,045 units. In 2008, Wal-Mart de Mexico received the Socially Responsible Company award for the eighth consecutive year.

Despite the much cited “digital divide,” many multicultural consumers in the U.S. are getting much more active online but in different ways, according to new research from global market research firm Synovate. Though younger people across all groups are much more likely to be online, there are major differences, including between males and females of the same age and ethnic group.
To find out more about online behavior among multicultural consumers, Synovate recently surveyed a total of 4,000 males and females ages 18+ across the U.S., including approximately 1,000 general market respondents, 1,000 African-Americans and 2,000 Hispanics.
Though approximately one in four Hispanics, African-Americans and general market consumers have visited YouTube.com in the past six months, African- American and Hispanic males ages 18-34 were more likely to have visited YouTube than their female counterparts. Among African-Americans, 55% of males and 33% of females visited YouTube, while among Hispanics, 41% of males and 20% of females visited the site. This differs from the general market, for which visiting this website was equally popular between males and females in the same age group.
For Hispanics, this gender disparity also extends to social networking sites such as MySpace.com and Facebook.com. Hispanic females were significantly less likely than Hispanic males to have visited social networking websites recently, with 18% of women and 27% of men claiming to have visited them. This is in sharp contrast to African-American and general market men and women, who were equally as likely to have visited MySpace or Facebook.
The differences in online behavior are especially prevalent with online shopping. Among general market consumers, 57% have made a recent purchase online while only 42% of African-Americans and one quarter of Hispanics have done the same. The gap is even larger with eBay visits. Less than three out of ten African-Americans and Hispanics have visited eBay in the past six months versus 41% of the general market population.
According to Denise Marks, Vice President of Diversity Research at Synovate, “For many multicultural consumers, Internet usage is about connecting with friends and family, and to keep up on the latest trends and news. As more Hispanics and African-Americans spend time online, marketing efforts should be directed towards building trust among these consumers to help them feel comfortable about online commercial transactions.”
Hispanics also lag behind other groups in adopting online banking, with only 24% claiming to have paid monthly bills online recently compared to 38% of general market consumers and 34% of African-Americans. While Hispanics overall are less likely to own financial products such as bank accounts and credit cards, their lower use of online banking may also be due to the fact that only 59% of Hispanics have Internet access at home, work, school, or through other means. This is substantially lower than the African-American and general market populations, of which at least 80% have Internet access.
Marks said, “Although Internet access is steadily increasing among Hispanics, basic necessities still come first for many in this group, the majority of whom are immigrants. Buying a computer is not always at the top of their shopping list, especially with the current jump in food and gas prices.”
Use of instant messaging, and posting to blogs and other online forums is similar across all groups, and again skews towards younger respondents. Instant messaging is more popular among Hispanic males than females, at 32% versus 24%, but there are no differences between the sexes for blogging.
With overall activity online, there are many differences among Hispanics depending on the language spoken at home. Overall, Hispanics that speak Spanish at home all or most of the time are much less likely to spend time online than those who are bilingual or English-dominant. The largest divide in online activities for the two language groups are engaging in commercial transactions or visiting social networks such as MySpace or Facebook. Those who speak English at least as much as Spanish are more likely to participate or visit these websites.
For more information on Synovate’s 2008 U.S. Diversity Markets Report, with data on buying power, language use profiles, and media, product, and service usage information for Hispanics, African-Americans and Asian-Americans, visit www.synovate.com/knowledge/publications/#diversity2008. To learn more about Synovate diversity research, visit

Long in the shadow of Republicans, Democrats in Central Washington are hoping to get a foothold on elective office in 2008, banking on a maturing Hispanic community, particularly in Yakima County, and political enthusiasm seems to be running high.

It might seem a no-brainer in a county where nearly 40 percent of the people are Hispanic, but Vickie Ybarra is hoping to be the first Hispanic ever and the first Democrat since 1992 elected to the Legislature from Yakima County’s 14th District”*

“Hablamos su idioma,” or “We speak your language,” is the message Chevy Chase Bank is trying to convey in brochures, on name tags and across business cards, and as the sign-off of the bank’s Spanish call-in line.

The Bethesda bank, the largest with local headquarters, is courting the region’s Latino community, having opened 26 Latino banking centers since September.”*

The word pachanga means “party” in Spanish, and the atmosphere was certainly festive, with guests gathered under tents on the Carrillos’ verdant lawn and the smell of mint from the mojitos pervading the air. But for the Carrillos, there was another reason to invite people over on a Sunday afternoon for Cuban sandwiches and croquettes: the opportunity to make inroads in a community that is becoming economically powerful in the region. It was hard not to notice the event’s sponsor, Chevy Chase Bank, where Carrillo works as the director of Hispanic banking.

“These events are a great opportunity to reach out to the Hispanic community,” said Marta Brito Perez, who used to be the director of human relations for Montgomery County but now works for a Delaware-based drug company. “There is great economic potential, so understanding how to reach the community is a must.”"*

Many banking companies have developed wealth management assets by targeting niche groups like professionals, women, and African-Americans, but observers say they are missing one particular niche: Hispanic-Americans.

Rich Rodriguez, a native of Mexico City who is forming his own bank in Oxnard, Calif., says he has had offers to move his accounts into a private bank, but no wealth management provider has targeted him specifically as a Hispanic-American.

“If they approached me as a Hispanic, it wouldn’t offend me,” he said. “I’m proud that I’m Hispanic.”"*

Patricia Romero Cronin was recently recognized by the National Society of Hispanic MBAs (NSHMBA) as its 2008 Ultimate Hispanic Executive. This distinguished honor is presented annually to an outstanding Hispanic leader who has exhibited a strong commitment to community service while exemplifying professional accomplishment. During her 25-year career with IBM, Ms. Cronin has held her current role as IBM’s General Manager of Delivery Excellence. She is an active member of the Pan American Roundtable; serves on the Board of Directors for the National Charity League (NCL) and Junior Achievement (JA); and also serves on the Advisory Board for HENAAC, which promotes careers in science, technology, engineering and math.

(Photo: www.newscom.com/cgi-bin/prnh/20080425/CLF052 )

Ms. Cronin was presented her award at a special reception held during NSHMBA’s 5th Annual Hispanic Executive Summit in Los Angeles, CA. The three- day summit, held April 24-26, hosted prominent Hispanic leaders from across the U.S. for professional development, governance and leadership sessions developed in partnership with the UCLA Anderson School of Management and lead sponsor BMW. Attendees engaged in roundtable discussions networked with fellow professional and listened to dynamic presentations from distinguished academic researchers and renowned business leaders.

About NSHMBA

The National Society of Hispanic MBAs (NSHMBA) was created in 1988 as a 501(C)(3) non-profit organization. Widely known as the “Premier Hispanic Organization,” NSHMBA serves 32 chapters and 7,000 members in the U.S. and Puerto Rico. It exists to foster Hispanic leadership through graduate management education and professional development. NSHMBA works to prepare Hispanics for leadership positions throughout the U.S. so that they can provide the cultural awareness and sensitivity vital in the management of the nation’s diverse workforce.
“*

LISTA Joins The MASSACHUSETTS Latino Chamber of Commerce to hold its 3rd annual “Business Seminar for Youth”.

Springflield, Massachusetts April 14, 2008— The MA Latino Chamber of Commerce will hold its 3rd annual “Business Seminar for Youth.” During the April school vacation April 21th-25rd from 9:00AM to 2:30 PM.
The youth will learn the basic skills of business, banking, ecommerce and technology, web, ecommerce and making good leadership decisions as final project each student by the end of the seminar will complete an ecommerce web business and business plan.

The Massachusetts Latino Chamber of Commerce has partnered with Latino in Information Sciences and Technology Association (LISTA ) www.a-lista.org  a national nonprofit and Jose Marquez, National President/CEO in order to bridge the digital divide.  ”We are very excited to announce this new partnership and the launch of the New Tech Center of Excellence to be built in conjunction with the Mass Latino Chamber of Commerce. Bringing LISTA’s tech literacy programs to Massachusetts is the greatest gift to the future of the children of Massachusetts and I want to thank their visionary president Carlos Gonzalez, for spearheading this movement” said Mr. Marquez.

Through our combined efforts, LISTA Ma. Tech Council and our initiatives we will work towards closing the Technology and financial literacy gap between Hispanic and non-Hispanic youth in Massachusetts.” said Carlos Gonzalez, President. Business owners will participate as speakers and role models during the week seminar and give back to the community by giving their most important asset… their knowledge.

The program will also feature “America Works” a Junior Achievement curriculum which highlights inventions past and presents. This is the third time we partner with Jennifer Connolly, Director of Junior Achievement.

According to the Federal Deposit Insurance Corp. among the nation’s Hispanics, now the largest U.S. minority, almost half-nearly 20 million people haven’t opened a basic bank account. President Bush introduced an initiative to promote financial literacy among Latinos. The MA Latino Chamber offers workshops on financial literacy for children and adults.

“It is crucial we invest in our future, offering financial literacy programs to the Latino community particularly our children will have a longstanding positive outcome for all of us. As an emerging community, if we do not prepare our children to understand economics then we will perpetuate the economic disparity that exists in our community today. Junior Achievement has the mission and the tools for us to use to help our children become educated consumers and to take a lead in the economic revitalization of Springfield and Massachusetts. .” Carlos Gonzalez, President.

“The Latino community continues to grow in Massachusetts and the rest of the country, Yes, we are making great strides, although it is slow in both financial and technology, we have come a long way, but we have a long way to go. We must do everything in our power to level the playing field for our next generation,” said Jose Marquez .

About Latino in Information Sciences and Technology Association (LISTA)

LISTA ( www.a-lista.org) promotes the utilization of the technology sectors for the empowerment of the Latino community. We are an organization that is committed to bringing various elements of Technology under one central hub to facilitate our partners, members and the community with the leverage and education they need to succeed in a highly advanced technologically driven society. LISTA Mission is to educate, motivate and encourage the use of technology in the Latino community and empowering them to bridge the digital divide.

Carlos Gonzalez
President
MA Latino Chamber of Commerce
1655 Main Street
Springfield, MA 01103

(413) 746 1989
www.masslatinochamber.com

Jose A. Marquez
President and CEO

Latinos in Information Sciences and Technology Association
Office: 347. 632.4542
info@a-lista.org
www.a-lista.org“

HSBC Holdings said Tuesday that Emilson Alonso, currently Chief Executive of HSBC Bank Brasil and Co-head of Latin America, has been promoted to a Group Managing Director and Head of HSBC Latin America with effect from May.

Paul Thurston, currently Chief Executive of HSBC Mexico and Co-head of Latin America, is also promoted to a Group Managing Director and will return to the U.K. in May as Managing Director, U.K. Banking, the Bank said.”*

*From: http://www.marketwatch.com
Traducido: usando Google o Altavista/Babel Fish

City National Bank has appointed Salvador Mendoza as senior vice president and manager of its Community Reinvestment Department, which monitors and reports on the bank’s Community Reinvestment Act (CRA) lending, investment and service programs.

Mendoza, who most recently served as vice president and manager of the Community Reinvestment Department, directs the bank’s CRA loan development and marketing efforts and community outreach initiatives conducted by City National’s banking offices in California. He also oversees research and development assistance for the bank’s Hispanic new business development and outreach initiative.

“Sal has played a key leadership role in helping City National strengthen our relationships with local community development organizations,” said Kevin Dunigan, executive vice president. “Those efforts have enabled us to create innovative ways for taking our local community reinvestment and economic development initiatives to the next level.”

Mendoza began his banking career in 1982 as an affirmative action officer in the bank’s Human Resources Department and later served in a variety of business banking, community reinvestment and CRA sales positions.

He has held other positions with Countrywide Insurance Services, Citibank and Union Bank of California, where he had a variety of community reinvestment responsibilities.

Mendoza is chairman of the board of directors of the Los Angeles Neighborhood Housing Services, the largest, non-profit affordable homeownership provider in Southern California. He also is a member of the boards of directors of CHARO Community Development Corporation and the San Fernando Financial Development Corporation.

He earned a bachelor’s degree in business and social science from California State Polytechnic Institute in Pomona, Calif., and a human resources management certificate from the University of California, Los Angeles.

About City National

City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $15.9 billion in total assets, and provides banking, investment and trust services through 62 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its eight majority-owned investment affiliates manage or administer nearly $59 billion in client investment assets, including $37.3 billion under direct management.”*

*From: http://www.primenewswire.com
Traducido: usando Google o Altavista/Babel Fish

Bank of America today announced the launch of a new Shared Service Center (SSC) in Miami, to service multinational clients’ treasury needs throughout Latin America and the Caribbean. The SSC will provide clients with a single point of contact for all of Bank of America’s payments, liquidity and trade capabilities, and will provide sales and product advice, implementation, servicing and investments.

The new SSC centralizes and streamlines client support in one location, providing access to in-country capabilities delivered by Bank of America’s office in Mexico and by provider banks across the region. The SSC will be staffed by a multi-lingual client support team.

“We’re excited to be able to offer our clients this one-stop working capital management platform for Latin America and the Caribbean. This announcement demonstrates our commitment to providing multinational clients world-class banking capabilities wherever they are doing business across the globe,” said Tom Avazian, Regional Executive of Latin America and Canada.

“With customers looking to consolidate banking relationships and improve liquidity, this center will provide improved efficiencies, streamline
problem-solving, and provide a consistent client experience across the globe,” Avazian added.

“This new center is modeled on highly-successful Shared Service Centers created by Bank of America in Europe and Asia. We are confident that it will provide businesses with an industry-leading client experience focused on meeting their needs through the delivery of the right products and solutions,” said Bank of America Client Delivery & Service Executive Sally Hawk.
The SSC will provide clients access to account inquiries, status of payments, audit requests, balance information and assistance accessing the bank’s provider network.

About Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 19,000 ATMs and award-winning online banking with more nearly 24 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.”*

*From: http://www.hispanicprwire.com
Traducido: usando Google o Altavista/Babel Fish

In 2004, recognizing the growing importance of the Hispanic market, CMG Partners released an in-depth analysis of the Hispanic market for financial services. We concluded that though Hispanics are one of the strongest growth engines for the financial services industry, the Hispanic market might not be a relevant market opportunity to all firms in the short term. We recommended that firms go beyond stereotypes and generalizations to perform a thorough evaluation of the portions of the market relevant to their institution to better understand whether there were relevant segments worth investing in immediately. “*

*From: http://hispanicad.com
Traducido: usando Google o Altavista/Babel Fish

TransferOrbit Corporation (OTC: TRBI) (www.transferorbit.biz) released today its new banking product line. The product line is called alBanco (“to the bank” in Spanish) and invites primarily Hispanic customers to use banking services offered by Banks that are TransferOrbit Customers. “Banks that work with TransferOrbit can offer products to compete and win in the money transfer market,” said Jorge H. Toro, President & CEO of TransferOrbit.

After one year of a successful pilot with an existing client, TransferOrbit is initiating a marketing campaign to promote the alBanco product line. The new alBanco product line offers banks the ability to capture money transfers at the bank teller, ATM terminals, via mobile phone technology, and to any merchant that works in partnership with the Bank. “Currently, banks watch as the Latino population bank at ethnic grocery stores by cashing checks and originating money transfers there,” said Jorge Toro. He added, “With TransferOrbit, the banks can offer multiple money transfer products to their customers at a much lower cost, with added security and are fully compliant with regulations.” TransferOrbit continues to invite Banks to enter the Money Transfer and Bill Payment Business in order to attract the elusive Latino customer by means of a product line (alBanco) that best suits their financial needs. TransferOrbit recently announced its partnership with FonWallet and the acquisition of FonWallet’s Mobile Transfer Platform, which is now part of the alBanco product line. For more information about the alBanco product line visit www.albanco.biz.

TransferOrbit, a Florida Corporation, is an electronic intermediary for money transfer providers. Banks and non-banks use the Company’s scalable, turnkey system of proprietary software and secure network processing to facilitate the person-to-person transfer of money on a “private label basis” throughout Latin America. Providers piggyback on the Company’s established network in the United States and 17,000 transfer agents in countries throughout Latin America.”*

*From: http://www.businesswire.com
Traducido: usando Google o Altavista/Babel Fish

Tommy Torres is known in the music industry as a prolific songwriter and producer for the likes of Ricky Martin and Jaci Velasquez.

But many don’t know Torres the artist, a singer/songwriter whose solo career has been set aside by his success in other areas.

Now, in the wake of the April 1 release of his third solo album, “Tarde o Temprano,” Torres is banking on a new record label — Warner Music Latina — a new sound and a more open-minded radio scene to really get his voice heard.”*

*From: http://www.reuters.com
Traducido: usando Google o Altavista/Babel Fish

Information Technology, Inc. (ITI), a business unit of Fiserv, Inc. (NASDAQ:FISV), a leading provider of information management systems and services, has partnered with Nuestro Banco, a de novo financial institution with a business plan dedicated to serving the Hispanic consumer and small business segments. The bank opened in September 2007, and has joined forces with Fiserv ITI to deploy the powerful Premier® core system as they pursue the expanding market from their headquarters in the Raleigh, North Carolina area.

“The Hispanic population is growing at 20 percent per year in North Carolina,” explained David Flores, president and chief executive officer of Nuestro Banco, “and the group’s purchasing power is actually growing faster than the population growth rate. The Census Bureau estimates that by 2050, one fourth of the nation’s population will be of Hispanic origin, yet today, the Latino populace as a whole is severely underbanked,” said Flores. “The key to capturing their business will be to design new ways to bank – ways that accommodate the Hispanic culture, habits and way of thinking. We understand these factors, and so does Fiserv.”

The bank looked at several core providers over a three-month period before deciding on ITI’s Premier® and outsourced processing services through the Fiserv ITI data center in Atlanta. Usability and an array of features were pivotal to Nuestro Banco’s choice, but they said that even more important than the software products were the professionals behind them.

“We wanted a software partner who not only understood the dynamics of the Hispanic banking market as it stands today, but one who could see the long-term direction the financial industry will take in response to its expansion. We wanted to partner with a company who can take us to the forefront, and Fiserv ITI was the only one who stood up and said, ‘We can do that,’” said Flores.

Available for either outsourced or in-house account processing, the Premier software suite offers highly scalable products for virtually every function, including core accounting, branch and Internet banking, business intelligence, risk and compliance, remote capture and transaction management, enterprise business process and content management – all available on the industry’s most popular hardware platforms for financial institutions of all types and sizes.

Among the technology partners serving the nation’s community banks, Fiserv ITI is recognized as a thought leader in Hispanic banking, offering an array of solutions including Spanish-language Internet and telephone banking software, online branding services, and a popular Hispanic Banking Toolkit that provides insight into cultural differences and common barriers to banking for Hispanics, as well as product and service recommendations, marketing strategies, best-practice tips and more.

“We were very impressed with Fiserv’s comprehension of the Hispanic culture,” said Flores. Nuestro Banco is particularly looking forward to implementing Premier’s workflows and processes that accommodate commercial lending, because of the potential offered by the growing number of small businesses owned by Latinos in North Carolina. Flores added ITI’s flexible, integrated software will enable Nuestro Banco to capture a vital portion of the Hispanic lending market by providing entrepreneurs the services they need to grow their businesses.

Scalability was also a factor in Nuestro Banco’s decision to work with Fiserv ITI. The bank has an aggressive growth plan that includes two branch openings a year for the next several years and it hopes this plan will leave them in a position to dominate the Hispanic banking sector throughout the southeastern U.S.

“The ability of ITI’s Premier software to grow with us and respond to our needs, and our customers’ needs, will allow us to succeed and thrive as the Hispanic market evolves,” said Flores.

“It’s estimated the Hispanic population will account for 50 percent of all U.S. retail banking growth by 2015, and yet this market remains largely untapped by banks and credit unions,” according to Mike Young, president, Fiserv Bank & Thrift Division. “Fiserv has and will continue to develop the products and services required for Hispanic banking but it’s really our commitment to this market, and the dedicated team we’ve assembled to aid development and implementation, that makes Fiserv stand out from the competition.””*

*From: http://www.businesswire.com
Traducido: usando Google o Altavista/Babel Fish

Time Warner Cable of New York and New Jersey, a leading provider of digital cable, high speed data and phone for residential and business customers, today announced the launch of its commercial website for the Latino community, www.twcbc.com/nyc-espanol . Also available to residential consumers is a Spanish language mini-site accessible through www.timewarnercable.com/nynj .

“Nearly one-third of the residents within our service area in New York are of Hispanic descent and speak Spanish, in many cases as the native language. It makes sense for those residential and business customers that we communicate directly to them and speak their language,” said Howard Szarfarc, President, Time Warner Cable of New York and New Jersey. “Tailoring our resources and communication methods for the Latino community helps us meet the growing needs of diverse residential and business customers.”

The new Spanish language content will offer many of the user-friendly features of the English version. The new residential pages offer the ability to learn more about products and services such as our Triple Play packages, Road Runner en Espanol, DTV en Espanol, as well as International Movies On Demand. Details about our International Calling plan are also available.

“This is a terrific opportunity for the Latino community in the New York Metro area. As this important population of our city continues to grow, it is essential that services such as this are available to them. Time Warner Cable’s commitment to serving their customers and improving options to them is evidenced by this new service,” according to Nancy Ploeger, President, Manhattan Chamber of Commerce.

Voice, data and video solutions and packaging tailored for small, medium and large businesses including the hospitality marketplace are available on the new commercial site.

“Time Warner Cable Business Class offers many innovative and cost-effective communication services to businesses. This new website is designed to help us reach out to the rapidly growing segment of Latino owned and operated New York City businesses,” Szarfarc added.

For more information on Time Warner Cable, visit www.timewarnercable.com/nynj . To obtain information about Time Warner Cable’s Business Class services, call (212) 598-1750, email sales@twcmetrobiz.com or visit us online at www.twcbc.com/nyc or www.twcbc.com/nyc-espanol to contact a Time Warner Cable sales representative.

About Time Warner Cable of New York and New Jersey
Time Warner Cable of New York and New Jersey serves over 1.4 million customers in four NYC boroughs (Manhattan, Queens, Staten Island and western Brooklyn), Mt. Vernon, Hudson Valley (Orange, Sullivan, Ulster Counties and parts of Dutchess, Greene and Delaware Counties) and Bergen and Hudson Counties, New Jersey.

Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located mainly in five geographic areas — New York state (including New York City), the Carolinas, Ohio, southern California (including Los Angeles) and Texas. As of December 31, 2007, Time Warner Cable served approximately 14.6 million customers who subscribed to one or more of its video, high-speed data and voice services.

Time Warner Cable Business Class has served the New York market for over 25 years, and delivers one of the most technologically advanced and best-clustered cable systems in the country. We serve over 42,000 commercial customers from a diverse range of industries including banking & financial services, healthcare, technology, hospitality, Government, etc. Leveraging its leadership in innovation, the highest quality customer care, and significant strategic partnerships, Time Warner Cable provides advanced services such as: Business Class Phone, Private Network Metro Ethernet Solutions, High-Speed Internet, Video-on-Demand, Cable TV, Disaster Recovery/Data Center Resiliency, Cellular Backhaul, and BusinessLink.tv IPTV service.”*

*From: http://www.hispanicprwire.com
Traducido: usando Google o Altavista/Babel Fish

The National Association of Hispanic Real Estate Professionals will host the Asian Real Estate Association of America (AREAA) and the National Association of Real Estate Brokers (NAREB) at its 2008 Legislative Conference in an unprecedented move that brings together the top minority trade groups in the real estate industry in one forum. The three groups will discuss the devastating economic impact of mortgage defaults and foreclosures on the minority community and possible solutions at the meeting that will be held on March 27, 2008 at the Hilton Washington Hotel at 1919 Connecticut Avenue NW. For a complete schedule of the meeting, go to www.nahrep2008legislativeconference.com.

The disproportionate economic impact on minorities due to subprime mortgage foreclosures and the potential setback it will mean for minority neighborhoods sets the tone for the coalition’s discussion. Real estate practitioners, business leaders and appointed government officials will exchange ideas about proposed policy and regulatory issues in a schedule that includes:

The announcement of a five-point plan by the Minority Coalition of Real Estate Professionals that addresses foreclosures, programs needed to drive recovery in the Hispanic, Asian & African American communities.

“Economic Viewpoints from the Industry Regulators” (9-10:30 am), a session that features open forum discussions with economists from Freddie Mac, the Federal Reserve and PMI and live audience polls including an introduction by Federal Reserve Board Governor Randall Kroszner.

“An Analysis of HMDA Data to Identify Future Patterns of Mortgage Default and Foreclosures in Minority Communities” (10:30-11 am) featuring fair lending expert Maurice Jourdain-Earl, Managing Director of Compliance Technologies. Jourdain-Earl, an emerging markets consultant, will offer insights on HMDA data trends relative to minorities and the current subprime mortgage crisis.

“Housing Issues Before the Banking and Finance Committees of the U.S. Senate and House” (11:15 am-12:45 pm) – a town-hall forum featuring the heads of NAHREP, AREAA, NAREB and the National Council of La Raza and a live poll that will capture practitioners’ opinions on the current bills before the House and Senate. U.S. Treasurer Anna Escobedo Cabral will offer comments at the outset of the session.

Keynote Speaker Alphonso Jackson (12:50-2:20 pm).

“Key Regulatory Issues Impacting Today’s Real Estate Professionals” (2:30-4 pm) – FDIC Director Sandra L. Thompson will make a presentation that will also include a live audience poll of practitioners.

“The combination of defaults and foreclosures, falling values, declining markets and fewer financing options is painting a particularly dismal outlook for minority buyers if legislative measures aren’t taken soon,” said Felix DeHerrera, NAHREP Chairman. “We need solutions for the present critical issues and reforms that keep the door to homeownership open for people of color and still keep the brokers in business that serve them.”

The annual NAHREP summit will also include the installation of two new officers and eight new board members at an evening gala on March 27. Rebecca Gallardo-Serrano will succeed DeHerrera as chairman and Tino Diaz will be sworn in as vice chair.

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.”*

*From: http://www.businesswire.com
Traducido: usando Google o Altavista/Babel Fish