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Essay / Research Paper Abstract
A 3 page paper reviewing a 2004 article discussing the new attention that a few banks are giving the fast-growing Hispanic population of the US. Expected to comprise 24% of the total population by 2050, Hispanics already have replaced African Americans as the nation’s largest minority group, and 70% of them have no banking relationships established. A few astute banks are appointing themselves as Hispanic financial educators that also provide banking services, positioning themselves well for the future. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: CC6_KSbankHisp.rtf
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Unformatted sample text from the term paper:
For years now, state governments have struggled to devise fair and workable plans for providing social services to them; school systems have struggled with the decision of whether they
should or should not become bilingual. Nearly every company large enough to greet telephone customers with a recorded message and an automated menu includes a Spanish duplicate of the
recorded instructions for use. The foregoing refers to the Hispanic population of the United States, of course, the fastest-growing minority group in the
country that has overtaken African Americans as the countrys largest minority group. Accounting for 14 percent of the nations population in 2004, Hispanics are expected to comprise fully 24
percent of the total population by 2050 (Campbell, 2004). And what has the banking industry been doing about these present and expected demographic
changes? In short, nothing. That omission seems to be becoming a thing of the past, however, as the countrys largest banks have begun actively seeking out members of
this large and growing minority group. Article Review The outstanding single feature of "Americas: Texas - Texas Arrangers - Welcome to Texas, Where
Global Banking Heavyweights Are Racing to Cater to the Banking Needs of the Fast-growing Hispanic Population. Monica Campbell Reports" is that it goes beyond the obvious. Rather than stating
only that Hispanics comprise a large group, this article explores the underlying meaning of current demographic data in terms of its long-range effect on the banking industry.
As example, Campbell (2004) states, "Studies also show that only about 65% of Hispanics are banked, compared with 96% for the US non-Hispanic population" (p. PG).
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