How to Establish Credit in the Hispanic and Latino Community

Hispanic and Latino families in the U.S. continue to face a variety of challenges when it comes to establishing financial well-being. There are continued, systemic barriers to wealth building, such as labor market discrimination, which result in Hispanic and Latino families being less likely than white families to own assets such as homes, businesses and retirement accounts.

There continues to be significant wealth gaps in this country among white families and Hispanic and Latino families. This is especially apparent when looking at the accumulation of significant financial assets.

A study of the wealth gaps between white, black and Hispanic families published by the Federal Reserve Bank of St. Louis found that Hispanic families are less likely than their white counterparts to own homes, businesses and retirement funds. And when they do, these assets have a lower value.

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