Wednesday, February 24, 2016

5 Trends to Watch in Consumer Finance

The financial crisis has changed the way many Americans view the financial system. In a 2014 Gallup poll, only 26 percent expressed having “‘a great deal’ or ‘quite a lot’ of confidence in banks,” down from 41 percent in 2007 and a high of 60 percent in 1979.

That Americans deeply distrust the financial sector is not surprising given the scope of the crisis, during which 5 million families lost their homes to foreclosure and households lost trillions of dollars in wealth. Many families doubt their own basic financial security, with nearly half of all Americans unable to come up with even $400 in an emergency without borrowing or selling something, according to a recent Federal Reserve survey.

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Monday, February 8, 2016

Former Hispanic Chamber CEO becomes market head for local bank

Varsovia Fernandez, who had been president and CEO of the Greater Philadelphia Hispanic Chamber of Commerce for much of the past decade before stepping down at the end of 2015, will become Philadelphia market leader for fast-growing Customers Bank.

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Saturday, January 23, 2016

Strategic Hispanic growth plans begin with readiness assessment

The Hispanic market is the largest, fastest-growing segment in this country, but that’s only one reason U.S. credit unions are working hard to learn more about this demographic.

Smart credit union executives understand the Hispanic population is very young compared to other U.S. ethnic groups. This presents an opportunity to lower the average age of membership by bringing Hispanics into the fold. Hispanics are also disproportionately underserved, and credit union leaders view helping Hispanics navigate the U.S. financial system as an important part of the overall credit union mission. Lastly, the face of the American consumer is changing, and growing membership means adapting to consumers, rather than forcing them to adapt to the credit union.

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Monday, December 28, 2015

Minorities exploited by Warren Buffett’s mobile-home empire

Times Watchdog: Clayton Homes has used a pattern of deception to help extract billions from poor customers around the country — particularly people of color, who make up a substantial and growing portion of its business. The company is controlled by Warren Buffett, one of the world’s richest men.

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Monday, December 21, 2015

Hispanics face barriers getting health insurance

There is no doubt that the Health Insurance Marketplace, a key feature of the Affordable Care Act as promoted by President Obama, has been good for the health of residents of Tennessee.

In 2015 over 231,000 Tennesseans were enrolled in the Health Insurance Marketplace and 83 percent of those were receiving insurance premium subsidies, making the insurance affordable.  The Gallup Poll reports that this dropped the rate of the uninsured from 16.8 percent to 12.9 percent.

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Saturday, December 12, 2015

The ‘Facebook of Latin America’ Taringa! Awarded $76,000 in Bitcoin to its Users

Taringa! is called Facebook of Latin America and most of its 75 million users are from the Argentina, Mexico, Spain, Colombia, Chile, Peru and the US Latino community. Just over six months after the launch of its Creadores program, Taringa! has distributed 195 BTC — or $76,000 USD to its top content creating users.

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Friday, December 4, 2015

The 'Hidden Geniuses' of Silicon Valley

One by one last year, major tech companies came out of the diversity closet. From behemoths like Google, Yahoo, Apple, Facebook and eBay to relatively pint-sized startups like Pinterest and Indiegogo, each published for the first time candid reports on the glaring gender and race imbalances among their employees.

These reports were typically followed with vows by company leaders to make sure their staff better reflected the populations they served — to somehow fix the broken pipeline that has shut out otherwise qualified minorities and women from careers in the booming tech field. It’s a job easier blogged than done. Black and Hispanic students made up 4% and 7.7% of all college tech majors in 2014, respectively

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Thursday, December 3, 2015

El Salvador Conducts First Investment Forum In New York

NEW YORK, Dec. 1, 2015 - El Salvador Export and Investment Attraction Agency (PROESA) conducted its first Investment Forum, El Salvador: Opportunities Beyond Expectations, with invited guests from a cross-section of the business and investment communities in Manhattan and the surrounding metropolitan area. A panel of Salvadorian officials and a US businessman discussed the opportunities and advantages of doing business and investing in El Salvador.

Speaking at the forum Mr. Sigfrido Reyes, President of PROESA said: "More than 50 companies from all around the world have already established a home for their operations in El Salvador. We have every expectation that it will continue to grow."

Referencing the benefits of commerce in El Salvador, Reyes continued: "The people of El Salvador are friendly and gracious in their hospitality." El Salvador, located in the middle of the Americas, has adopted the US dollar - considered a major factor for investors.  Citing the issue of safety, security, and overall stability of El Salvador, Reyes said: "We have fought and won corruption, have worked vigorously to promote economic growth, and today we offer a country that is ready, in all aspects, to be your partner."

Speaking specifically to the issue of economics, Carolina Vides, Investment and Export Manager for PROESA, said: "It all starts with investment laws.  El Salvador offers attractive tax incentives which guaranty investors a secure environment." The country has begun to attract foreign direct investors (FDI), a statistic supported by the fact that it has more foreign direct investors than any other country in the region.

Phil Pedone, panelist and US businessman with operations in El Salvador, believes El Salvador is an outstanding place to conduct business, stating: "They have free trade agreements with 42 countries, and taxes are very favorable for foreign investors." According to Pedone, profits from their Salvadorian business have allowed them to make investments that have helped grow their business both in US and El Salvador.

Salvadoran UN Ambassador, H.E. Ruben Zamora, in closing, stated: "We have been speaking today of all the advantages of investing in El Salvador. A major factor of foreign investors joining us in El Salvador is that it creates opportunities for everyone; we have created an environment for businesses to invest and grow with El Salvador."

Founded in 2000, PROESA is El Salvador's Export and Investment Attraction Agency.  PROESA is an independent government agency whose mission it is to improve the lives of the people of El Salvador through the promotion of exports, investments and public private partnerships. And to, increase national productivity by the creation employment opportunities and enhanced national development.

SOURCE El Salvador Export and Investment Attraction Agency (PROESA)

Sunday, November 29, 2015

How mobile payment services could help low-income consumers

When Apple unveiled its mobile payment service Apple Pay last year, Tim Cook, the company’s chief executive, described it as “an entirely new category of service.”

During the company’s annual media event, Mr. Cook pointed to an image of an overstuffed wallet bulging with credit cards.

“Our vision is to replace this,” he said, to cheers from the crowd. “It’s so easy to lose your card or have it compromised, it’s no wonder that people have dreamed of replacing these for years.” He paused for effect

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Sunday, November 22, 2015

Financial Access and Services Are Essential for Immigrant Integration

Latinos have represented the fastest-growing segment of the U.S. population in recent decades. Significant growth is expected to continue -- the Census Bureau estimates the Hispanic population will increase by 86 percent between 2015 and 2050, amounting to 119 million or one in four Americans, by 2060.

Given this tremendous population growth, the health of the U.S. economy is deeply tied to the status of Latino financial health. Access to safe, affordable, and cross-cultural financial products and services is essential for Latino individuals, families, and entrepreneurs to fully participate in the banking system.

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Friday, October 30, 2015

At Wall Street Latino Summit, A Focus On Expanding the Wealth

NEW YORK, NY - In a penthouse atop a luxury Manhattan hotel, there are discreet signs that this is a high-level business meeting. The men are a sea of dark suits and discreet ties, while the women favor well-tailored ensembles and pearls. At one table, the Wall Street Journal and Investor's Business Daily are splayed out next to a Louis Vuitton purse and a Blackberry.

And if you take a closer look, you will see that nearly all of the guests and speakers in attendance here are Latinos. They gathered in New York City this week for the New America Alliance's (NAA) 15th Annual Wall Street Summit to network, strategize, and focus on accelerating on the economic progress of U.S. Latinos.

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Sunday, September 13, 2015

Attracting Young, Diverse Mortgage Bankers

The Radius Financial Group, a mortgage lender in Norwell, Mass., recently made a $1 million investment in its future. The outlay wasn’t for technology, marketing or even office space. Rather, the company executives decided the future well-being of Radius depends upon its ability to attract younger employees from more diverse backgrounds.

So they started what they call the Next Generation Independent Mortgage Banker training program, and hired a young Marine captain to lead the initiative. In May, about two dozen candidates became the first to enter the 12-week immersion program, which paid them a base salary. And this month, 13 of these candidates graduated. Of them, six are veterans from the military, one is black and two are Hispanic, according to Keith Polaski, the chief operating officer and a founder of Radius.

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Wednesday, July 29, 2015

ezDinero Offers Credit-Building Loans to Hispanic Consumers

CHICAGO, IL, July 28, 2015 /24-7PressRelease/ -- ezDinero Loan Solutions, an online alternative lending service targeting the needs of the Hispanic market, connects first-time borrowers to lenders specializing in non-traditional loans. Today ezDinero announced a new program to offer installment loans of up to $20k to low-income and other underserved populations.

With a mission to foster community development and individual success, ezDinero is expanding its suite of high-quality loans available to its target borrowers. By offering installment loans and other loan types to credit-challenged consumers, ezDinero hopes to broaden the impact of the Hispanic community and offer greater opportunities for Spanish-speaking individuals in the U.S. and abroad.

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Thursday, July 16, 2015

Hispanics Unbanked: Understanding Hispanics’ Financial Services Usage

The mandate to drive sales and build loyalty among Hispanic consumers is felt across all industries. This is felt acutely in the financial industry. Driven by economic, cultural, and language factors, Hispanic consumers significantly under-index on banking status and financial products usage. This represents not only a huge business upside for financial services companies, but also a human opportunity in emboldening and increasing access to historically underserved Hispanic consumers.

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Monday, June 22, 2015

Asian American buying power to hit $1 trillion by 2018

In one year, Asian-American buying power has increased by more than $50 billion. By 2018, that number is expected to reach $1 trillion, a consumer report says. In the third edition of Nielsen’s Asian-American consumer report, “Asian-Americans: Culturally Connected and Forging the Future,” the media research company examined the unique consumption behaviors of the fastest-growing and most racially diverse segment of America’s multicultural majority. 

Asian Americans represent just 6 percent of the total US population, but posted a growth of 46 percent from 2002 to 2014. From now through 2050, US Census projections state the group is expected to increase by 150 percent. Divided into three sections, the report revealed details on Asian-American consumption habits related to culture and technology, and the projected increase in buying power. 

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Immigrants, Latinos Helped Drive Business Creation Last Year

Immigrants and Latinos helped drive an uptick in new business creation, according to a measure of 2014 U.S. startup activity to be released Thursday.

Immigrant entrepreneurs launched 28.5% of the new businesses in 2014, up from 25.9% a year earlier and just 13.3% in 1996, according to an annual startup index by the Ewing Marion Kauffman Foundation, a Kansas City, Mo., nonprofit.

Kauffman-funded researchers found that immigrants started new companies or became self-employed at nearly twice the rate of native-born Americans, creating an average of 520 businesses a month per 100,000 people last year. Immigrants accounted for 12.9% of the U.S. population in 2012, the most recent data available, up from 9.3% in 1996, according to the U.S. Census Bureau.

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Wednesday, June 10, 2015

Mortgage Pitch to Millennials Focuses on Diversity

Millennial-age workers recently outnumbered their Gen-X peers for the first time ever. But the average loan officer is 54 years old, and industry groups are taking steps to help expand outreach to the next generation of mortgage professionals.

According to first-quarter data from the Pew Research Center, more than 53 million workers are millennials born between 1980 and the early 2000s, while there are less than 53 million Generation X workers born between 1960 and 1980. But the issue isn't just a matter of lenders needing to add fresh legs to their rosters. The millennial demographic also represents a future crop of borrowers that lenders have so far found difficult to serve.

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Monday, June 1, 2015

How Companies Turn Your Facebook Activity Into a Credit Score

Nicole Keplinger, 22, had long seen ads on Facebook promising financial relief, but she always ignored them and assumed that they were scams. Keplinger was drowning in student debt after obtaining a worthless degree from the for-profit Everest College, whose parent corporation, Corinthian Colleges Inc., had recently collapsed under accusations of fraud and predatory lending. But when an offer arrived in her e-mail inbox in April—“Cut your student loan payment or even forgive it completely!”—she thought it seemed more legitimate than the rest, so she called the number.

The person on the other end was aggressive. “They wanted my banking information, my Social Security number, my parents’ number and their information. I was like, ‘Wait a minute,’” Keplinger recalled. Even after she said that she lived on a fixed income (on disability due to a kidney transplant), the telemarketer kept up the pressure. “They said I needed to get a credit card. I don’t know if they were going to take money off it or what… but why do I need to get a credit card if I’m trying to reduce my student loans?”

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Monday, May 25, 2015

5 Marketing Questions with Mariela Ure, SVP, Segments Strategy Lead for Enterprise Marketing, Wells Fargo

Mariela Ure is senior vice president and Hispanic segment strategy lead for enterprise marketing at Wells Fargo. She is responsible for leading the company’s efforts to deliver products and services that meet the needs of the rapidly growing Hispanic market. Mariela oversees segment-specific strategies, the development of business and marketing plans, and defines the company’s priorities to maximize service to Hispanic communities nationwide

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Thursday, December 18, 2014

Hispanics Represent Over Half Of All Renters In The U.S., Yet Most Are Uninsured

BLOOMINGTON, Ill., Dec. 18, 2014 /PRNewswire/ -- Only twenty nine percent of Hispanics who rent their homes report having renters insurance, according to a new survey by State Farm. In fact, among respondents without renters insurance more than one third (34%) said they had never heard of renters insurance. Further, most overestimated the cost of coverage and underestimated the value of their property. Not having renters insurance could leave Hispanic families vulnerable to a financial catastrophe especially during the holiday season.

The study comprised of over 500 renters was designed to gauge awareness and understanding of renters insurance in the Hispanic community. Results indicated that almost half (43%) of survey respondents without renters insurance think they cannot afford it. However, 88% of respondents overestimated what a typical renters policy costs per month, with over half thinking it costs $50 or more a month, when in many cases renters insurance can cost as little as $12 a month.

"There seem to be some misconceptions when it comes to renters insurance," said Stephanie Colegrove, Operations Vice President – Underwriting. "We want everyone to know that if their possessions are stolen during a break-in, or damaged by a fire or another covered loss, a renters insurance policy can help them replace their valuables."

Over 50 percent of respondents also believe their belongings are worth less than $10,000. In fact, personal belongings - including clothes, furniture and electronics - can cost much more to replace. Replacing those belongings could create a significant financial burden.

According to a 2013 State of Hispanic Homeownership report the number of Hispanic households has grown from 9.2 million in 2000 to 14.7 million in 2013[1], representing a growth rate of 60 percent with Hispanic households representing over half of all renters[2].  As more Hispanic families rent their primary residences, understanding the benefit of having renters insurance will become increasingly important.

Renters insurance can be a great gift for the family this holiday providing the security of being able to recover from the unexpected. For more information on the misconceptions about renters insurance go to

About the Survey
In August of 2014, the State Farm Strategic Resources Department used an outside panel vendor to conduct an online survey with a representative sample of the U.S. Hispanic population by age, gender, region and preferred language of the survey. Survey responses were received from 539 renters who identified themselves as being 18 or older, Hispanic or Latino, responsible for making household insurance decisions, and having at least one major insurance product (auto, home/renters, or individual life) with any insurer.

About State Farm: 
State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 18,000 agents and more than 65,000 employees serve almost 84 million policies and accounts – approximately 82 million auto, home, life, health and commercial policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 41 on the 2014 Fortune 500 list of largest companies. For more information, please visit or in Canada

[1] Hispanic households >This includes both owner-households and renter-households

[2] The State of the Nation's Housing 2014 by The Joint Center for Housing Studies of Harvard University:

Hedge funds lead financial firms’ flow into Miami

Drawn by both favorable weather and tax climates, financial service firms are a fast-growing business sector here.

“Hedge funds have been moving from New York and elsewhere to Miami,” said attorney Carlos Deupi, chairman of the Miami Finance Forum. “The hedge fund industry has been expanding in sync with Miami’s expansion as a global financial center.”

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Monday, November 10, 2014

A quarter of Latinos lack health insurance, a year after Obamacare launched

In the waiting room at La Clinica del Pueblo, a community health center in Northwest Washington, signs in Spanish encourage patients to “Empower yourself!” and sign up for insurance coverage.

Adults slump in chairs, scribbling on application forms, texting friends, waiting. In a tiny office a few feet away, William Joachin, the center’s patient-access manager, confronts the frustrations of trying to navigate the federal health-care law for the thousands of immigrants who flood the clinic each year.

Read full article

Monday, November 3, 2014

Hispanic-focused Solera Bank made few loans to Colorado Hispanics

Solera National Bank was formed specifically with Latinos in mind — a dedication it still trumpets seven years after it was created — yet the bank has done very little mortgage lending to that community, federal data shows.

The bulk of the bank's home loans through 2013 — nearly $257 million for home purchases or refinancing existing mortgages — have been to non-Latinos, and a large share of those dollars went to areas far from Solera's Lakewood headquarters, including mortgages in Hawaii and Alabama, according to data from the Federal Financial Institutions Examination Council.

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Wednesday, October 15, 2014

Telemundo y Wells Fargo Lanzan una Campaña Para Ayudar a los Hispanos a Alcanzar Sus Metas Financieras

MIAMI--(BUSINESS WIRE)--Telemundo anunció hoy una nueva campaña, “Conversemos de Tus Finanzas,” en colaboración con Wells Fargo, que se centra en fortalecer a los hispanos mejorar sus conocimientos financieros y ayudarles a alcanzar sus metas financieras. Basado en la plataforma de Wells Fargo “Conversaciones,” la campaña incluye viñetas informativas y contenido personalizado sobre la administración de dinero y crédito con Rashel Diaz y Diego Schoening, los presentadores de “Un Nuevo Día.”

“A través de perspectivas e investigación, desarrollamos ‘Conversemos de Tus Finanzas’ para ayudar a nuestra comunidad a sentirse empoderados. Nos complace haber colaborado con Telemundo para desarrollar esta campaña y mantener motivados e informados a los latinos que prefieren comunicarse en español.”

La campaña de seis semanas estará respaldada por segmentos personalizados en el programa “Un Nuevo Día” y segmentos financieros patrocinados en los programas “Al Rojo Vivo” y “Noticiero Telemundo.” La campaña incluye participación en redes sociales y una página en linea exclusiva con anuncios de 30 segundos presentados en la sección de finanzas de Wells Fargo también ofrece una página en linea que brinda herramientas y recursos sobre cómo crear un presupuesto, administrar las finanzas y establecer el crédito.

“Es un honor para nosotros colaborar con Wells Fargo en esta campaña para brindarles educación financiera a nuestros televidentes,” dijo Mike Rosen, vicepresidente ejecutivo de ventas publicitarias de NBCUniversal Hispanic Group. “En Telemundo, nos dedicamos a fortalecer a la comunidad hispana, y nuestra colaboración con Wells Fargo es una manera única e innovadora de conectarnos con nuestro público para motivarles a alcanzar sus metas económicas.”

La colaboración con Telemundo resalta el compromiso de Wells Fargo de brindar educación financiera y recursos en español a los consumidores latinos. El compromiso de la compañía incluye herramientas bilingües en linea, Banca por Texto en español, estados de cuenta en español, centros de llamadas en español, representantes bancarios que hablan español en sucursales de todo el país y mucho más. Además de estos productos y servicios, Wells Fargo se esfuerza para comprender la situación financiera de los latinos y reúne las perspectivas de la comunidad para alcanzar esa meta. Por segundo año consecutivo, Wells Fargo realizó recientemente una encuesta a nivel nacional de los inversionistas hispanos (en inglés) para revelar sus necesidades únicas y puntos de vistas sobre las finanzas, y dar a conocer su fuerte deseo de recibir más educación sobre los conceptos básicos de inversión.

“En Wells Fargo, queremos asegurarnos que estamos conectándonos con la comunidad hispana de una manera significativa, con la información útil y valiosa que más les importa,” dijo Mariela Ure, vicepresidenta sénior de Hispanic Segment Strategy en Wells Fargo. “A través de perspectivas e investigación, desarrollamos ‘Conversemos de Tus Finanzas’ para ayudar a nuestra comunidad a sentirse empoderados. Nos complace haber colaborado con Telemundo para desarrollar esta campaña y mantener motivados e informados a los latinos que prefieren comunicarse en español.”

Para obtener más información sobre la colaboración, visite Para obtener más información acerca de los recursos financieros bilingües de Wells Fargo, visite

Acerca de Wells Fargo
Wells Fargo & Company (NYSE: WFC) es una compañía de servicios financieros diversificados basada en la comunidad con cobertura nacional y activos que ascienden a $1.6 billones. Fundada en 1852 y con sede en San Francisco, Wells Fargo brinda servicios bancarios, seguros, inversiones, préstamos hipotecarios y financiamiento comercial y al consumidor a través de más de 9,000 sucursales, 12,500 cajeros automáticos (ATM) e Internet ( y, y tiene oficinas en 36 países para respaldar a los clientes que realizan operaciones comerciales en la economía global. Con aproximadamente 265,000 miembros del equipo, Wells Fargo presta sus servicios a uno de cada tres hogares en los Estados Unidos. En el año 2014, Wells Fargo & Company ocupó el puesto número 29 en la clasificación de las empresas más grandes de los Estados Unidos que elabora la revista Fortune. En 2013, la Compañía invirtió $275.5 millones de dólares en subvenciones a 18,500 organizaciones sin fines de lucro, y los miembros del equipo contribuyeron con más de 1.69 millones de horas de trabajo voluntario en todo el país. La visión de Wells Fargo consiste en satisfacer las necesidades financieras de todos nuestros clientes y ayudarles a lograr el éxito financiero. Las perspectivas e historias de Wells Fargo también están disponibles en (en inglés) y (en inglés).

Acerca de Telemundo
Telemundo, parte de Empresas y Contenido Hispano, una división de NBCUniversal, es una compañía internacional de medios de comunicación, que lidera la industria en la producción y distribución de contenido en español de alta calidad a través de su cartera en varias plataformas para la comunidad hispana en los EE.UU. y público de todo el mundo. Las distintas plataformas de Telemundo incluyen Telemundo Network, una red de televisión en español que presenta producciones originales, películas cinematográficas, noticias y eventos deportivos de primer nivel, que llegan a televidentes hispanos en los EE.UU. en 210 mercados a través de sus 16 estaciones propias, afiliadas de MVPD y transmisión; Telemundo Digital Media, que distribuye contenido original de Telemundo a través de plataformas digitales y emergentes, incluidos dispositivos móviles, y; una estación propia y operada por ellos de alta potencia en Puerto Rico que alcanza el 99% de todos los hogares televisivos en esa área de mercado designada (DMA, por sus siglas en inglés); y Telemundo Internacional, la división de distribución internacional que ha posicionado a Telemundo como el segundo proveedor más importante de contenido en español en todo el mundo que distribuye el contenido a más de 100 países en más de 35 idiomas.

Friday, October 10, 2014

A Quarter Of Latinos In The U.S. Are Uninsured

In the “sala de espera,” or waiting room, at La Clinica del Pueblo, a community health center in Washington, D.C., signs in Spanish encourage patients to “Empower yourself!” and sign up for insurance coverage through the Affordable Care Act.

Adults slump in chairs, scribbling on application forms, texting friends, waiting. In a tiny office a few feet away, William Joachin, the center’s patient access manager, faces down the frustrations of trying to navigate the federal health care program for the thousands of mostly Central American immigrants who flood the clinic each year. He’s not alone.

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Tuesday, October 7, 2014

Annual Survey Finds Hispanic Banking Experience Improving, but Long-Standing Preferences Result in Missed Savings Opportunities

CHERRY HILL, New Jersey, Oct. 7, 2014 /PRNewswire-HISPANIC PR WIRE/ -- TD Bank, America's Most Convenient Bank®, today released its second annual TD Bank Checking Experience Index survey which found that the Hispanic banking experience has improved in the past year. According to the Index, 84% of Hispanic consumers consider their day-to-day experience with their checking accounts excellent or very good (compared with 80% in 2013).

Although most Hispanic consumers have a checking account and are generally happy with their bank's services, 30% of survey respondents said they have used a check cashing service within the past three months, followed by 28% who used money transfer agents. The TD Bank Checking Experience Index is a nationwide survey of more than 1,500 consumers, including more than 500 Hispanics, with checking accounts at various financial institutions.

"Nearly all (95%) of Hispanic consumers surveyed currently have a checking account, but some still use alternative banking services," said Ryan Bailey, Executive Vice President, Head of Retail Deposit and Payment Products, TD Bank. "Consumers should speak with their bank to help identify the most appropriate services to help them meet their everyday financial needs."
Human Interaction, Accessibility are Important 

When asked about their primary checking accounts and day-to-day banking needs, Hispanic consumers ranked their financial institutions as having friendly and helpful service (82%), accessibility (79%) and making day-to-day banking easier (78%) as being excellent or very good.

The top five ranked banking services which Hispanic consumers said were either excellent or very good were:

Debit card or check card (84%)
Easy to use online banking (83%)
Online bill pay (81%)
Online account-to-account transfers within your bank (79%)
Convenient banking hours (73%)

More than half (59%) of Hispanic consumers said that availability of materials in Spanish for their primary checking accounts and day-to-day banking needs was either excellent or very good.

Alternative Preferences with Modern Banking Behaviors
Check cashing services are still commonly used by Hispanic consumers, despite having a bank account. Of the 30% of Hispanic survey respondents who reported using check cashing services, they cited the following reasons for using them:

Cashing a check (19%)
Convenience (13%)
Need for cash (12%)

Of the 28% of Hispanic consumers who used money transfer agents, they did so to transfer/send money to friends/relatives (14%) and transfer/send money out of the USA (13%).

Regional Differences: New York City and Miami/Ft. Lauderdale
Based on the results of the Index, Hispanics in New York City and Miami/Ft. Lauderdale have similarities and differences with their banking behavior:

More Hispanic consumers in Miami/Ft. Lauderdale have checking accounts
        compared with Hispanic consumers in New York City (98% 
versus 88%)
Hispanic consumers in New York City reported using a check cashing
        service in the past three months than those in the Miami/Ft.
        Lauderdale area (56 % versus 40 %)

More Hispanic consumers in Miami/Ft. Lauderdale have used money
        transfer agents (74%) than those in New York City (69 %)

Prepaid card usage for day-to-day purchases in Miami/Ft. Lauderdale
        (40%) is significantly higher than Hispanics in New York City 
Most Hispanic survey respondents in New York City use prepaid cards for
        online purchases (63%)

More Hispanic consumers in Miami/Ft. Lauderdale rated their bank as
        excellent and/or very good (83%) compared to those in New 
York City

Hispanic respondents in both markets said that the debit/check card is
        essential and can't imagine not having this service (69% New 
York City,
        64% Miami/Ft. Lauderdale)

Survey Methodology 
The study was conducted among a nationally representative group of consumers from August 25 through September 1, 2014. The sample size of 1,510 consumers has a margin of error of +/- 2.5%. The survey was hosted by global research company Angus Reid Public Opinion.

About Angus Reid Public Opinion 
Angus Reid Public Opinion is the Public Affairs practice of Vision Critical—a global research company. Vision Critical is a leader in the use of the Internet and rich media technology to collect high-quality, in-depth insights for a wide array of clients.

About TD Bank, America's Most Convenient Bank
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit Find TD Bank on Facebook at and on Twitter at TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit


Friday, October 3, 2014

Audi, Chevy, Lincoln plan bigger marketing outlays to support '15 launches

NEW YORK -- Several major auto brands will boost their marketing budgets next year to support busy model launch schedules, a group of executives said at the Automotive News Marketing Seminar here Tuesday.

Audi, Chevrolet and Lincoln officials said bigger marketing outlays are planned for next year.

Audi’s 2015 marketing spend will grow by about 10 percent compared to 2014 levels, said Loren Angelo, director of marketing at Audi of America. Audi has made high-profile TV events such as the Super Bowl and the Emmy Awards major ad platforms, while also incorporating new digital elements to extend the reach of its traditional campaigns.

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Monday, September 29, 2014

The 1 percent’s twisted new scheme: The Kochs and other billionaires are determined to buy the White House in 2016

The answer to the question of whether rich people can buy elections is “Sometimes, but not always.” President Obama won reelection despite the massive amounts spent to defeat him by conservative business leaders. He beat back their spending by having a weak opponent who was seen by voters as pro-rich and out of touch. Mitt Romney lacked the personal skills to connect with voters and persuade them that he cared about the middle class.

Clearly, then, money is not the only thing that decides election campaigns. Public opinion, media coverage, campaign strategies, and policy positions matter as well. During a time of rising campaign costs and limited public engagement in the political process, money sets the agenda, affects how the campaign develops, and shapes how particular people and policy problems get defined. It takes skilled candidates, considerable media coverage, and strong organizational efforts to offset the power of great wealth

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Wednesday, September 24, 2014

Making the big banks pay

Attorney General Lisa Madigan today announced a record $300 million settlement with Bank of America over of the bank’s misconduct regarding risky mortgage-backed securities.

The settlement includes $200 million in relief to fully recover for losses incurred by Illinois’ pension systems and $100 million in consumer relief.

The agreement is part of a national settlement forged by the U.S. Department of Justice and also joined by attorneys general from California, Delaware, Massachusetts, New York and Kentucky. The settlement includes recoveries for RMBS issued by Countrywide and Merrill Lynch, both of which were acquired by Bank of America.

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Tuesday, September 23, 2014

U.S. Hispanic Chamber Of Commerce Gathers in Utah, Touts Latino Growth

A tiny fraction of the 54 million Latinos in the U.S. are in Utah, yet U.S. Hispanic Chamber of Commerce President and CEO Javier Palomarez said the state is the perfect place for the Latino business group to hold its annual convention this week.

"We are going into places we have been thought to not heretofore have existed,” said Palomarez, who said his organization has previously taken the conference to cities like Dallas, Chicago, Los Angeles and Miami, which he described as hotbeds for the Hispanic community and enterprises.

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Friday, September 19, 2014

New Ad Council Campaign Gives Hispanic Parents Resources & Support to Help Their Children Prepare, Plan, and Pay for College

NEW YORK, Sept. 16, 2014 /PRNewswire/ -- In celebration of Hispanic Heritage Month, which runs from September 15 to October 15, the Hispanic Scholarship Fund (HSF), in partnership with the Ad Council, is launching a new, national public service advertising (PSA) campaign to give Hispanic parents access to the resources they need to help their children prepare, plan, and pay for college.

Today, Hispanics account for 19% of all college students, ages 18 to 24, up from 12% in 2008.  What's more, 69% of Hispanic graduates are now going directly to college after graduating high school, a rate that is higher than that of the general population. This unprecedented surge in Hispanic college-bound students underscores the need to provide more information about college and more financial resources than ever before.

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Thursday, September 18, 2014

Hispanics Optimistic About Their Futures, Financially Motivated to Protect Their Families

MILWAUKEE, Sept. 18, 2014 /PRNewswire/ -- Hispanics are fairly optimistic about their futures, believing they have the power to make their dreams a reality and that everyone has an equal opportunity to succeed. Northwestern Mutual's Elements of Success Study reveals that Hispanics are financially motivated by the need to be prepared for the unexpected, so that their families will be protected.

The study suggests there are definitive differences in how Hispanics view their education, career and finances.

In terms of education, Hispanics appear to place greater emphasis than the general U.S. population on learning through doing. They are the most likely of all ethnic groups surveyed to indicate they have not yet achieved their career/job goals.

Like most Americans, Hispanics perceive being debt free to be the No. 1 component of financial success, and they are more likely than other Americans to value paying for their children's college, having an emergency fund, and providing for their families in case of death as components of financial success. They are also more likely to manage long-term goals on their own; only 16 percent of Hispanics currently use a financial advisor, compared to 21 percent of the total U.S. population.

"Providing financial security to their families is an important long-term goal for Hispanics, but financial security rarely happens by accident," said Chris Meece, director of multicultural markets at Northwestern Mutual.  "Partnering with a financial advisor is often the best way for Americans to ensure they have the financial security to close the gap between dreams and reality for themselves and their families."

According to the study:

Education: Hispanics consider the major components of educational success to be gaining life skills to achieve goals, earning a college degree and being a lifelong learner. Compared to the general U.S. population, they are more likely to define educational success as taking advantage of extra-curricular activities to gain skills and getting the best grades.

Career: Hispanic Americans index very high on service jobs, which may explain why they are far more likely to look at their employment as a job rather than a career and to define career success as doing the type of work they want to do.  Hispanics place more emphasis on obtaining recognition from their boss and peers than does the general population.

Financial Success:  Only 15 percent of Hispanics believe they are either extremely or very successful financially. They are less likely than other Americans to do research on their own on the topic of financial planning, and are less likely to mention owning their own home and saving enough for a comfortable retirement as the definition of financial success.

Northwestern Mutual offers a number of tools designed specifically to help Hispanic clients and their families achieve financial security, including an informational microsite in English and Spanish ( and a variety of Spanish-language materials and videos on financial planning, available through Northwestern Mutual Financial Representatives.

Chris Meece, Director of Multicultural Markets. "While Hispanics' desire to protect their families for the future is an extremely admirable long-term goal, financial security rarely happens by accident."

"Working hand-in-hand with a trained financial advisor is the best way for all Americans to ensure they have the financial security to close the gap between dreams and reality for themselves and their families."

"Family enters heavily into Hispanics' financial motivation: they are more likely than other Americans to mention paying for their children's college, having an emergency fund, and providing for their families in case of death as components of financial success."

About the Research 
Northwestern Mutual sponsored an online study to examine a diverse group of U.S. adults' perceptions of their personal, family, career and financial success.  Independent research firm Harris Interactive, Inc., conducted the online survey in December 2013. 

About Northwestern Mutual 
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With more than $217 billion in assets, $26 billion in revenues and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.2 million people who rely on us for insurance and investment solutions, including life, disability and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.

SOURCE Northwestern Mutual

Tuesday, September 16, 2014

Maid Right Residential Cleaners Make It Easy to Own Your Own Franchise

ALPHARETTA, GA--(Marketwired - Sep 16, 2014) - Maid Right residential cleaning franchises provide an attractive investment opportunity for Latino entrepreneurs for as little as $1,600. Maid Right Master Franchise Owners identify the customers, provide training and support for Unit Franchise Owners who deliver the Maid Right Signature Clean. This approach allows a local Unit Owner to control their earnings by the superior cleaning and quality of work they deliver for the customer.

With the Hispanic American population expected to grow to 128 million by 2060, Maid Right recognizes the potential its unique franchisee business model has for hard working Latinos who want to own a cleaning business without the risks associated with independent cleaning services.

According to a report published by the International Franchise Association, today only 5.2 percent of American franchise businesses are owned by Hispanic Americans. Lack of funding and information present stumbling blocks to existing and aspiring Latino entrepreneurs who wish to own a franchise. As franchises like Maid Right reach out to the Latino community, ownership rates will grow.
Danessa Itaya, Vice President with Maid Right Franchising, LLC explains the company's commitment to reaching the Hispanic community with its business ownership model, 

"We are already seeing an increase in the number of Hispanic-owned franchises in our areas of operation as Hispanic entrepreneurs learn about the benefits of our unique two-tier Master/Unit Ownership."

If you are considering a franchise in the residential cleaning industry, Maid Right franchise unit ownership is one of the leading franchise opportunities for US Hispanics nationwide.

Latinos Becoming Business Owners
There are many businesses actively involved in the Hispanic Heritage Month celebration that takes place every year from September 15th to October 15th. During this month-long celebration, it is important to remind members of the Latino business community about the business opportunities available to them.

In a "franchise-update" article published on, Sebastian Aroca, Managing Partner with Hispanic Market Advisors explains why franchise ownership among Hispanics will continue to grow. Aroca says, "The residential cleaning category appears to be a great fit for Latinos who want to start their own business in their local communities. Franchise unit owners enjoy the opportunity to earn higher income while enjoying the stability of residential cleaning, which seems to be a recession-resistant industry."

Since many Hispanics prefer to consume information in Spanish, Maid Right Franchising has developed a bilingual website that allows Hispanic entrepreneurs, regardless of their language preference, to connect directly with Maid Right Master Franchise Owners.

Currently, the Maid Right Latino program is being offered in four territories close to West Palm Beach, Florida, Philadelphia, Pennsylvania, Phoenix, Arizona and Roswell, Georgia. Here are the URLs to those websites:

Maid Right of Broward County, FL
Maid Right of Cherry Hill, NJ
Maid Right of Greater Phoenix, AZ
Maid Right of North Fulton, GA

Learn more about how to own a franchise with Maid Right Latino Or call 1-888-675-2095 to learn if you qualify as a potential unit franchise owner.

A Note on Terminology
The terms "Latino" and "Hispanic" are used interchangeably.

About Maid Right Latino:Maid Right, one of the Premium Franchise Brands companies, is a top ranked global leader in franchise residential cleaning. With the website, the company seeks to offer opportunities to build a family business to the Hispanic business community. For more information, visit:

About Hispanic Market Advisors®Hispanic Market Advisors® is a boutique digital marketing agency focused on developing online Hispanic market-ready solutions, including English to Spanish translations and Latino SEO services. Visit for more information.

Tuesday, September 9, 2014

SavePro Insurance Solutions addition to Premier Insurance Services brand adds commercial insurance products

SAN FRANCISCO, Calif. /California Newswire/ — Protector Holdings, LLC, a joint venture of EPIC (Edgewood Partners Insurance Center) and Dowling Capital Partners, today announced the acquisition of Northern California's SavePro Insurance Solutions. Addition to Premier Insurance Services brand adds auto, homeowners and commercial insurance products and Latino service markets.

SavePro (formally Bains and Woodward Insurance) was founded in 2008 in Yuba City, Calif. by Roger Bains and Paul Woodward, and has expanded to Chico, Eureka and Oroville, Calif.

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Friday, September 5, 2014

Eriksen Translations Presents: Cross-Cultural, Targeted, or Neither? Discover the Right Approach to Engage Hispanics

Hispanics represent 25% of the population in the top 15 U.S. markets. No longer a niche segment, Latinos have become a powerful consumer force, making it imperative for companies to adapt their business strategies to address cross-cultural needs and reach Hispanic audiences.

On September 16, Eriksen Translations (, a leading provider of multilingual services in over 100 languages, will host a workshop presented by Sandra Diaz of DIAZ & CO. (, aimed at helping organizations evaluate and develop growth strategies to engage equally with Hispanics versus other markets.

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Wednesday, September 3, 2014

Hispanics Seek More Financial Knowledge

Growing up with little to no financial education, Hispanic investors today say they are hungry for more investment knowledge, according to a new Wells Fargo survey.

A large majority of Hispanic investors wish they knew more about investing in mutual funds, stocks and bonds (72% of surveyed Hispanic investors versus 64% of U.S. investors overall), according to the survey

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Friday, August 29, 2014

Think Twice Before Using Your Smartphone

He plays bass guitar, and rather well some say. He discovered Christianity for himself and reads biblical texts. He has been a hacker since the age of 8. He is known amongst other hackers as "nerve gas," his pseudonym. His ability and competence are unquestioned; law enforcement and top government agencies call on him for help. He is an expert, one of the best outside of the company itself, on Apple's iOS operating system. That's the operating system on iPhones.

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Tuesday, August 26, 2014

iPhone and Android-Users Can Now Open Bank Accounts From Their Smartphones

Emails, texts and notifications that communicate the balance, status and movement of cash are services offered by most banks worldwide and demanded by a vast majority of tech-savvy individuals who carry handheld devices, cell phones, computers and/or interactive screens of any kind.
Since online/home banking was introduced in the early 1980s, the digital and virtual management of monetary funds has become mainstay, and would later become favored over traditional banking, particularly by Hispanic Millennials and certain upscale/affluent Latinos. 

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Friday, August 22, 2014

Multigenerational Households: The New Normal of Housing?

For decades the path to adulthood looked something like this. Graduate from high school, go to college, graduate from college, get a job, get your own place, and, ta-da, you’re an adult. But a new economic reality has changed that.

Multi-generational housing, having three generations living together, is become more and more normal. College grads that can’t find work, older people who can’t live on their own, and the generation paying for them both, all living under one roof. 

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Thursday, August 21, 2014

MassMutual Teams Up with ALPFA to Provide Research Insight, Financial Education and Career Guidance at 2014 Annual Convention

SPRINGFIELD, Mass., July 31, 2014 /PRNewswire/ -- The increasingly expanding Latino population in the United States is poised to play a crucial role politically, economically and culturally. Massachusetts Mutual Life Insurance Company (MassMutual) and ALPFA, the largest Latino professional development organization, are dedicated to helping as many within the country's next minority-majority prepare to take on this influential role. The two organizations will be providing key opportunities for Latinos to develop into the U.S.'s future leaders of character at the 2014 Annual ALPFA Convention, Aug. 2 – 5, in Lake Buena Vista, Fla.

Over the past four years, MassMutual and ALPFA have worked together to help an exploding number of Latino small business owners and families make good financial decisions for a more secure future. The two organizations have taken to the road to raise awareness of the need for financial education and future planning, hosting information events and panel discussions in several locations across the country.

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Friday, April 5, 2013

Mobile Banking Usage Up, Banks Need to Adapt

March 08, 2013 

When it comes to mobile banking, the financial industry is quickly learning that a one-size-fits-all approach doesn't work in capturing the Hispanic market.

A new study by Zpryme and Thinknow Research looked at mobile banking usage trends of Hispanics on tablets and smartphones. What the study found was that banks who wish to attract and retain Hispanic customers in the U.S. must now adapt their marketing and customer service strategies to meet evolving mobile banking needs. 

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Friday, September 7, 2012

Latino Market Holds Key for Issuers of Credit, Debit, and Prepaid Cards

ROCKVILLE, MD--(Marketwire - Sep 6, 2012) - Latino consumers are a bright spot in an otherwise dreary picture for issuers of credit, debit, and prepaid cards, according to Consumer Payments in the U.S.: The Latino Market, a just-released report from Packaged Facts.

"The continuing disproportionate growth of the Latino population has made it increasingly important to the American consumer economy. Between 2000 and 2010, aggregate spending by Latinos doubled," says David Sprinkle, publisher of Packaged Facts. "The affluence of Latinos with credit and debit cards and the convenience provided by prepaid cards are generating consistent growth in consumer spending."

Latino spending is especially beneficial to credit card issuers. Between 2004 and 2011, the number of non-Latino American consumers who owned credit cards fell 7%. Over the same time span, Latino cardholders increased 23%. This vibrant growth helped moderate what would have been an even more significant drop over the 5% decline in the total number of credit card owning Americans during the 2004-2011 period. More than 14 million Latinos own credit cards, accounting for 10% of all consumers who have or use them. Credit card use among Latinos is often associated with affluence: one-third of Latinos using credit cards to pay their bills have a household income of $75,000 or more. Projections by Packaged Facts are that the proportion of credit cardholding Latinos will gradually return to pre-recession figures to eventually total 18 million by 2017.

The number of Latinos with debit/ATM cards more than doubled between 2004 and 2011, increasing 115%. In contrast, non-Latinos with debit/ATM cards increased only 51%. Today, 21 million Latinos own debit/ATM cards, representing 14% of consumers of the total. Packaged Facts forecasts the percentage of Latinos with debit/ATM cards will increase until it more closely matches the percentage of non-Latinos with debit cards. By 2017, 26 million Latinos will be debit card owners.

While Latinos represent a bright spot for credit and debit cards, they are the only source of light for prepaid cards. Between 2011 and 2012, Latinos drove all of the growth in prepaid card use. Packaged Facts further reveals that almost 5 million Latinos used a prepaid debit card in the last 12 months, accounting for 15% of all consumers using these cards. Going forward, the convenience and safety factors will contribute to continuing strong growth in Latino use of prepaid cards. Packaged Facts projections are that by 2017 the percentage of Latinos using prepaid cards will increase to 16% and that the number of Latinos depending on prepaid cards will exceed 6 million.

For more information, please visit or

About Packaged Facts
Packaged Facts, a division of, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods (including foods and beverages, health and beauty care, and household products), and pet products and services. Packaged Facts also offers a full range of custom research services. To learn more, visit: Follow us on Facebook, LinkedIn, Twitter, and

SOURCE: Packaged Facts

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