CFA, Freddie Mac to Release Analysis on the Wealth of Hispanics

WASHINGTON – The Consumer Federation of America and Freddie Mac will release an analysis on Nov. 17 “Report on the Wealth of Hispanic Households” on the wealth and financial attitudes of Hispanics. Latest data collected by the Federal Reserve Board and new survey research show that Latinos are falling behind in the accumulation of household wealth, said the CFA. The new information that will be released at the Nov. 17th press conference will address the wealth of typical Hispanic households, the “striking” differences in financial behaviors between Latinos and other groups, underlying factors contributing to the gap in wealth, and specific spending and spending habits of Hispanics. At the same press conference, CFA and Freddie Mac will announce the launch of a new America Saves initiative to reach out to Hispanic households and help them with building wealth. It will include a variety of programs such as a bilingual Web site and brochure, and free advice from bilingual financial planners.