Analysis Of The Federal Deposit Insurance Corporation

Unbanked Latinos; AARP Opportunity to Gain -Trust Unbanked, as defined by the Federal Deposit insurance Corporation, or FDIC, is a Household that do not have a checking or savings account and have used alternative financial services like money order, check cashing, remittance, payday loans, etc. Economic reports have Latinos growing rapidly in the United States. There are about 57 million Latinos in the United States and represent about 18 percent of the total population; of these 57 million, 60 percent are Millennials (18-49) and in total they inject about $1.7 trillion (projected in 2020) dollars a year to the U.S. economy. In 2014 the number of Unbanked Latino Households declined, still the number of unbanked remains much higher†¦show more content†¦(Latinos, [documented and undocumented] lost confidence in banks in several aspects Wells Fargo 2017 Suit: Wells Fargo targeted undocumented immigrants for accounts, Thomas Lee, April 26, 2017) perhaps AARP Prepaid cards....? Fifty-three percent of Mexican immigrants and 37 percent of other Latin American immigrants are unbanked, according to a report by the Federal Reserve Bank in Kansas City. â€Å"Undocumented immigrants are also concerned that banks will share their information with immigration officials, or that they wouldn’t be able to access their funds if they are deported,† according to a report by the Federal Reserve Bank in Richmond, Va. â€Å"This is a real fear among undocumented immigrants and a potentially high barrier to overcome, because it could mean the difference between staying and working in the United States (and sending money back home) and being forced to leave the country,† the report said. All 3 generations connected through two elements that bind them together SOLUTION: 1st, 2nd 3rd generation Latinos have little to no education to college educated family members in the household, some members with advanced degrees. The number of Latinos graduating from High School dropped significantly (2000 to 2014) and a significant number enrolled in two year college institutions, a 35% increase among the ages of 18 to 24 from 1993 to 2014 that s a jump from 22% a 13% percentage point increase.Show MoreRelatedRegulation of Banking and Financial Services Essay1210 Words   |  5 Pagesbanks were bailed out by the various US Federal Government agencies e.g., US Treasury via the Troubled Asset Relief Program (TARP) and the US Federal Reserve via Quantitative Easing (QE). However, as it turns out, the concept of systemic risk is not so easy to define in legal terms—as illustrated by the difficulty in nailing down the definition by US Congress via the Dodd-Frank legislation or by the US Treasury and the Federal Deposit Insurance Corporation (FDIC) via regulation (Horton, 2012). OneRead MoreThe Role Of External Auditors On Public Financial Statements1446 Words   |  6 Pagesindependent Certified Public Accounting (CPAs) who are hired by companies to conduct audit of financial statements (Federal Deposit Insurance Corporation, 2006). Taking United States for example, the Securities and Exchange Commission requires that all listed firms with stocks publicly traded should hire CPA firms to audit their financial documents (Federal Deposit Insurance Corporation, 2006). However, it is important to notice that CPAs are only responsible of auditing the financial statements insteadRead MoreEssay about solution slainas613 Words   |  3 Pagesbucked the trend of financial and liquidity problems that has plagued the industry since 1985. Ms. Salinas believes it is necessary to have a long range strategic plan for her firm including a 1 year forecast and preferably even a 5 year forecast of deposits. Objective: 1.To determine what would be a successful forecasting tool for the strategic plan of Ms. Salinas. 2. To compare different forecasting tool with its Pros and Cons. II. Review of Background Information: In this case study, weRead MoreThe National Banking Act Of 18631462 Words   |  6 Pageswere presented as brick mortar, comprised with safe deposit boxes, vaults, tellers and ATMs. Today, we live in a very fast paces world. Technological advances have allowed global economies to bank online at personal and professional leisure. As some commercial banks do not require a physical location, they save a lot of money in ancillary charges, such as rent, utilities and property taxes. At times they may offer higher interest rates on deposits, investments and charge lower fees as well. CommercialRead MoreEssay on Bank of America Case Analysis1705 Words   |  7 PagesBank of America – Case Analysis Prepared By Kesha S Mitchell April 30, 2013 AMBA 650-1134 Marketing Management and Innovation Professor Philemon Oyewole In 2007, Bank of America (BofA) Corporation launched the largest secure mobile banking service in the United States and has over four million mobile banking customers. BofA mobile banking service gives the customers access to their checking accounts for balance, transfers funds and to pay bills through a mobile application (app)Read MoreGlass Steagall Act For Banks And Securities1549 Words   |  7 Pagessecurities. The Federal Deposit Insurance Corporation (FDIC) came out of The Act of 1933 (Stammers). The Federal Deposit Insurance Corporation (FDIC) wanted banks held accountable to depositors and the federal government for their actions. The major part of this act was to keep banks and securities separate until 1999 Gramm-Leach-Biley Act (GLBA) (Heakal). The GLBA allowed banking and securities to mingle and compete in domestic and international markets. Glass, known as the founder for the Federal ReserveRead MoreThe Federal Reserve System Essay1075 Words   |  5 PagesThe Federal Reserve System The Federal Reserve System was founded by Congress in 1913 to be the central bank of the United States. The Federal Reserve System was founded to be a safer, more flexible, and more stable monetary financial system. Over the years, the role of the Federal Reserve Board and its influence on banking and the economy has increased. Today, the Federal Reserve Systems duties fall into four general categories. Firstly, the FED conducts the nations monetary policy. The FEDRead MoreThe Principal Types Of Deposits Offered By Td Bank1581 Words   |  7 PagesAn overview of the principal types of deposits offered by TD Bank personal, small business, commercial banking and investing and competitiveness of these offerings are the strategic weapons or differentiating product features (quality, price, service), which allow some companies within an industry to perform better than others. Industry standards and regulation often set minimum requirements for the industry an as key inputs to the indust ry, plays a significant role in determining the success ofRead MoreThe Great Depression : History1409 Words   |  6 Pagesmalnutrition. It was so bad that women began to prostitute themselves, just to pay the bills. Results â€Å"Gradually gradually used federal agencies to address issues and met with business and labor leaders to reduce layoffs and strikes Financed federal work projects, such as massive dams in the West (Boulder, Hoover, and Grand Coulee) Set up RFC (Reconstruction Finance Corporation) in 1932 to make loans to stimulate economy in a trickle-down manner. Raised tariffs 33% by signing the Hawley-Smoot TariffRead MoreThe Current Banking Industry Environment Essay1960 Words   |  8 PagesOur analysis explores the current banking industry environment. This industry contains banks that provide loans and other financial services to their clients that include commercial and business clients and individual consumers. We looked at strengths and weaknesses to assess the strongest US banks and what makes them successful. We focused on opportunities in the banking industry, the rise in mobile banking technology, better customer service, and capitalizing on the rising need for home loans to