It has become something of an inside joke in financial services that the so-called "emerging markets" already are here and well established. What's more, they represent a potential windfall for financiers who serve them right. "We're mainstream already," declares Hernan Guaracao, publisher of Al Dia, a Spanish language newspaper based in Philadelphia. And, if buying power is proof, Guaracao is correct. The disposable income of Hispanic immigrants will top $1.08 trillion by the end of the decade – just four short years from now, according to the University of Georgia's Selig Center for Economic Growth. But institutional lenders in the U.S. are beginning to question whether their well-honed methods for identifying, measuring and controlling customer behavior will not fit the...
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