Monday, June 14, 2004

AS MEXICAN MIGRANTS PROSPER, US BANKS COME CALLING
By Brian Winter

CHICAGO, June 14 (Reuters) - When Jose Luis Reynoso decided to turn his family's taco stand in Mexico into an upmarket clothing store, he needed the kind of money that can only be earned in the United States.

So off he went to Chicago where he got a job as a caterer and now wires home $800 a month that his wife, Micaela, uses to buy glittering belts and high-heeled shoes to sell at their new shop.

The Reynosos, busy overhauling their business to cater to a growing wave of middle-class Mexican migrants, are the type of clients U.S. banks have grown to pursue.

"Banks finally seem to have realized that Mexicans have more money these days," said Reynoso at a burrito stand on Chicago's North Side. "You can really see them competing for our business."

FOR THE REST OF THIS STORY VISIT:
http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=5419132

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