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Remittance Flows Key to Tapping the Latino Immigrant Market
Despite the significant growth of the Latino immigrant population in recent years, this market remains largely untapped by U.S. banks, according to an article published in the Winter 2004 issue of the FDIC's Supervisory Insights released today. "Linking International Remittance Flows to Financial Services: Tapping the Latino Immigrant Market" explores strategies used by some banks to capitalize on remittances-funds transferred to family in the home country-as a way to bring the unbanked into the formal banking system.
The article, "The Importance of a Loan Policy 'Tune-Up,'" emphasizes the benefits to banks of having an effective loan policy and provides guidance for reviewing and updating a policy. "From the Examiner's Desk" explains the key role of bank examiners in the real estate appraisal function and describes how the appraiser referral process works. "Accounting News" describes accounting procedures used by those insured institutions that participate in the various Mortgage Partnership Finance programs offered by several Federal Home Loan Banks.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,025 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).
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