Fed's Moskow Says Banks Need to Help Immigrants

Published on:
12 September 2006 at 10:21 a.m. ET

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http://www.insidearm.com/news/00015945-feds-moskow-says-banks-need-to-help-immig/

Michael Moskow, President of the Federal Reserve Bank of Chicago, said Thursday that U.S. financial institutions need to help immigrants gain better access to financial products and services, such as loans and credit cards. “Financial access is fundamentally linked to economic prosperity,” Moskow said in a Reuters story.

Moskow was speaking at a conference unveiling a report on financial access and immigrants. The report, put together by the Chicago Fed and the Brookings Institution, delivered ways in which credit unions and banks could tap into the growing U.S. immigrant population.

Immigration into the U.S. is at a 70 year high.

You can read more about this story at Fed’s Moskow says banks need to help immigrants.