mm illinois comptroller susanna mendoza and the head of the latino affairs, patty juarez.

it was part of the national association of latino elected ded officials annual conference in las vegas. start by buying thank you, and to everyone who made the breakfast. ino it's the final day of naleo, if it weren't, i think if this were the naleo conference we would still have ae of that party that cabrera capital had last night. i'm thankful that so many people are in this room for this breakfast. i mean do they know how to throw a party or what? so i'm going to say a very big round of applause to for going the fortitude to make it here today and i also say that a very very special thank you tohe man of hour for the last 30 years. a big round of applause. [applause] >> and i'm crom troller,

susanna i was to serve in a state wide capacity thank you. and i've been elected three i'm proud to say that even thoughtr con title in all of government existence, i wtate illinois in the last election in [applause]. >> prior to serving as i was the first woman clerk in chicago, and serving as the youngest member of the chamber. as the chief officer it's been and privilege to successfully our state through the two worst crises. budget that lasted 736 days billion with a b, 16.7 billion dollars of unpaid bills. a rainy day fund of $48,000. there was more money than that spent on booze aloneterday

at cabrera's party. yes, today, thankfully we no longer have a a working accounts payable and paying our billsr state of illinois which is my day to do and over two billion and growing. i'm proud to say, also that that build backlog was paid down before a penny of came in the door. while there were before i served as illinois crom comptroller, we're on an upgrade in the state of illinois. i'll betruthful many had written off our state, a few short they thought we would never recover. being that we're in ve would say never, ever bet against the state of illinois. we're a great great pool of latino las vegas

legislators legislators. thank you for working so hard. and thank you to auro vargas for me to plenary session. the aim for s explore the current and future state of latino economic growth and influence, while identifying policies and strategies to increase our according to a recent report from latinolaborative latinooutput over two trillion. and latinos if their independent country their gdp would rank fifth in thf the ldited kingdom,france. at the same most major latino vote indicate that the

economy and living conditions top the list o we'll look at the economic latino growth and influence, identifying policies and strategies that our team makers can support and advance to increase our community's mobility and. i hope you find this discussion interesting and hel let me just say that we have an incredible panel with us today. experience with us this morning are to my left this order, miss anna valdez. applause. >> (applause). >> amazing, you'll see. miss patty suarez i heard a woo. [applause] >> and alfred. [applause] >> before iy panel members, share a few fun facts about who they are. rt with anna valdez. the president and chief donor collaborative, but her son alex 25 years old, just screened his first

documentary. yes. can you believe that? documentary at 25. a piece about a jungle that was colombia that's now being restored. he's obviously anny environmentalists, you should look up this amazing piece of the power of one and we here ladies and gentlemen to my left, have one proud mama on our hands. [applause] >> now, mis patty juarez the head of historic and affairs in wells fargo. something fun about know this when she was just 10 years old she was a child right? what? you're like wait what? yes, she was a child actor and her claim to fame was playing the devil at thege of 10. yes. she, too, is a proud her daughter is super-duper smart and i think has allcollege offers right? but really the nuns were very age

of 10 when she played the devil so devil cackle. she could do it ask her in the hallway. let's talk about alfred trejo, a partner at the p. and what you should know about alfred he is a recovering addict. i know. you can clap. yeah he's a recovering addict. [applause] >> not everybody wants to talk about that, but he's addict of chicano art. yes, chicano says that month has been especially tough for him and he needs our support. i have a feeling before he goes home i'll h in vegas to bring home with us. anyway ladies and all have i am impressive resume's in the bio app. and i'll ask them to b them-- introduce themselves. starting with patty and alfred. thank you for being here. [applause] >> thank you for the fun

and thank you for being here. as was said it was a wild night for think. so my name is anna valdez ceo of latino collaborative and impacts in the united states. there's many more i would loveto have to this conversation. i was born in mexico city mexico. [applause] >> and i left mexico to work for spain, the the clinton administration and lived in los angeles for 25 years. so very excited to be here thank you, naleo, thank you arturo thank you for putting this incredible event, every getting such a big difference. thank yo [applause]. >> i'm a friend anna's. good morning. >> good morning. >> buenos dios. and it was a late night.

my p are in tulsa, and we time with them and it was i've been there 29 started as a baby ad head of latino affairs in wells fargo, the recent position i took over in july. in that role i'm in charge of outcomes. r outcomes in the historic community as well as some of our representation ou company. so i have a multi-faceted job, it's fascinating, id do it for free, but don't tell my boss kid through college and a second one after that so i need a paycheck. but i love what i do because it enables me to my beloved latino community and try to make a difference as access remains the number one concern for entrepreneurs and in our community as well. so it's good being here and thank you for having me. thank you,arturo. [applause] >> muy, buenos dios it'sally a pleasure

to be here with you this morning and it's true i'm a crazylector of chicano art and passionate about representation in industry especially arts and culture and i joke with m staff occasionally we'll have a when are you moving this is it going to be hung? jessica don't worry about it, this piece is in a witness protectionéçen't told my husband i purchased this piece of art and when i we'll send it back home. and some of the group founded, multidisciplinary law and planning of los angeles. we work with large and small focused on creati and resilient cities throughout the country. i'd like to say we operate at the edge of city building and sowe do our work as experts in the law in planning and designarchitecture in labor

relations and advocacy all common goal of working creatively to introduce new models of developments that we hope to prosperity for our communities, especiino communities. we do it through a data-driven approach to ourwork. i'm really honored to be able to speak to you all today aboute status of the potential for economic latinos. in our office in los angeles andfrancisco, we're currently involved in the construction permitting and development of over 6,000 housing units in we represent-- thank you. [applause] >> we representns that currently are investing over $2 bilent in california and throughout the country. so we -- i mention t approach our work through both data and the experience both the opportunities and the challenges that we're seeing in the marketplace in creating greater economic opportunity folatinos. so thank you very much.

>> excellent, well thank you. big roundpplause for our panelists, please. [applause] start with questions now, i'm going to to miss anna valdez. with the upcoming edition of the u.s. latino gdp report in ind moo,mind what is the importance as economy of states. the i emerging latino market and overall well-being indicators for lat >> thank you, that's a great question and, actually coming out in september with a latino gdp report. first of all, we're so our partners at wells fargo who have fde beginning. the whole table, to avoid course to avoid going through names and patty juarez leading this incredible effort and w this report i can't say numbers yet, but this including a number of things. my favorite thing is a report about young people.

and these young people will be. we're doing a lot of different things and reports about them.ng people do you mean like 50's? >> you're right, exactly. young people. no actually no 34 it's a complete different people that are parents would understand me. they're wired different and gen zers are definitely, but latinos specifically have this incredible parents who built the fifth the world. and the commitment. 90% were born americans. first language englis college because their parents sacrificed everything to send them to college, but they still have all of this work ethic, this passion this ambition and more-- that their parents had and moreimportantly, this gratitude. >> you know we make a lot i would, i have so much to share about this, but we do and social

media analysis and we've noticed this time aroundtime right? gen zers and gen x'ers are so proud of themselves and they should they're very individualistic. they go and their social media is look what i achieved yes, you can and my next step is going to befantastic. and latino kids turn around to their parents and give diploma and their hat and everything and say made that. >> yay. [applause] >> and that's feel because i have a kid that's graduated in may. >> and their parents' lives because they're different. anhave a voice, they have an opinion and their raise it and it shows dreamers, right? it shows in the power of you with young people and how they're deciding what to watch when they are well-represented. it shows in brands. e doing a report specifically about brands in

partnership withnd colgate and univision and we'res -- we say in spanish, all to t so much to come in september with this report and otherso see it. i'm very proud of your kids. >> w that. thank you, anna. >> of course. >> patty, ways that the banking sector have responded to the growth of the nolamunity across the country and how has your helped the latino community with financial servic lessons learned along the way? >> well i think the-- wh role at the bank last july i it's in direct response and it's anintentional step to honor the latino community because it has such an important part of our business. when you look at how many re open you know last quarter, over 40% of those are being opened by latinos. you can see the power that our has in terms of numbers, and it is such an important constituency for us that they said we need a senior

leader at wells whose only job is looking from soup to nuts. from the beginning when you are, you know e checking account, all the way to when you're plnganortirement. how does the bank serve this community? you know, what are the products that they need? what are the services that they need? wthem? do we need to develop them? do we need to enh of products that we have to better fit the needs of the younger coming in strong? because they're very digitly and savvy, they know lange -- they know longer want to walk in the way. it's my responsible to make t the bank is looking at beyond today, what is the future. >> yeah. the future bring for us. i think for wells farg$m my position is the only one in the intentionally

looks at our businesses as well as the colleagues right, inside the bank because you have to represent your community staff. you have to represent the markets that you serve and have a ways to go. i mean banking traditionally, mj oriented not hispanic, but we have bee in new talent from all industries because we are over 200,000 members strong so we need people in technology as much as in banking and other areas of the bank. so what we're doing we're bringing in and 20% of our incoming hires are we are already the largest minority groupls fargo and our incoming work force looks pretty much latino. if you look at great are graduating college and taking those jobs latinos are the number one coho. we're very excited to provide a

platform f people to work for us. how do we retain them? into the firm? how do they have experiences they're going to share and like and you know take their talents aiver on our commitment to this community? so we have toepre working on ensuring that at the senior leadership levels of the company, we're also better that's great. you know patty, first of all, a big shutout fargo for identifying great talent and promoting it because it'sportant for us to be-- we all serve incapacity right? here is a fact. when women are in charge of the money, things get done much better. that's a fact and it's important foreople to see themselves represented and kind of like in the stem area math sciences girls don't see themselves reflected in theire is true in finance, really a male-dominated environment and then they look

how they might improve themselves elevated to large positions, whether in government or the private sector that's what little girls need to see, and the fact that they're latinos even alfred i'll move on to you. tell us when home ownership became an the united states? >> happy tock is ticking and only about 20 minutes remaining. i mentioned that our work is really datea-driven. it's the information organizations we have here with the latino-- the latino and other federal and state agencies. and w that we continue to contend with the histjuic embedded in our economic system in america really begin to have a conversation about solutions and opportunities for without acknowledging that historic system. s country a system where thenomic power in america

has been created by people of color, and yet, we're the ones that haveitted the least. >> andve as you all know with slavery and emancipation emancipation we're celebrating juteenth and after african-americans were in slavery. chinese-americans, chinese immigrants who builthe railroad never truly benefitted from that labor. you have farm workers have never-- until to t, haves not been paid a fair wage and benefit interest their labor. we have to think about the opportunities to move forward and think about home ownership. home ownership inaccelerated between 1940 and 1960. esdo anyone know why that is? there wasn't a greater amo of americans buying homes before and after that period and that's bill adopted in1944 right?

the gi bill is the second class mobility in the united states. it allowed them school for veterans. free intensives for ownership. no down payment if you were a buying a home. free for a time. and the confused with home ownership. yet, that opportunity the singslemost greatest investment by the admn was not accessible to latinos. i'll give i just one data point. in new jersey and new york at the time the g was adoptd, over 67,000 new home loans were issued to veterans. of tho loans, only made available to black and latino veterans imagine that. >> it's crazy.

>> the vasty of wealth in america, as we know is in 50% of americans-- over 50% of their as family is in owning their homes. yete ownership is still unattainable for many about the economic output of our communities, but let's get to the bottom line when it comes ties for social and class mobility. that's the real challenge. >> on that point though what o barriers that exist today right now for latino homeentsportunities, we have to contend with these incredible difficult aspects around the equity in our economy. gtd we have decision makers here in this room that have a in giving latinos greater opportunity. hat we are working intensely with our partners and our giants ownership more available. how are we doing that? number one is we're working with our elected officials both

at the state and local level to increase housing production. we know that ownership has to do with affordability andordability is impacted by production of housing. so we've been working witcal partners to ensure that we have the right policies that are going t housing production. the other piece that we're working on is america. how do we increase wealth opportunities, not just job creation, but jobs that are able to create that generationalgeneration al wealth that we see. when we talk anna mentioned gen z and youngersyoung ers ers-- younger i'll give you an example of generational home ownership in america. and look at 2023 the last year that's available. of all the homes that were sold the home ownerdpome owners 30 years and older, that purchases their first home. over 80% o polled bought

their homes with their parents' over 80%. and yet, in the latino community across the nation across all families only 5% of latinos have the capacity parents, to transfer their wealth. think about that. the accomip depends on family wealth and parental support. an of our latino families with the power to transfer wealth and opportunity. we've got before we can tackle home ownership. >> excellent. thank you. [applause] >> i mean it' eye opening, right? we were talking about stuff earlier, when i was a child and i think a lot of us can relate alfred and i relate to this. i grew up i a home incredibly hard working pare to talk about money. you know it's probably all heard it, but i've come to

realize certainly as the chief cer, the only people who don't talk about money are people who don't have a lot of mo have a lot of money, they talk about it all the time. if i were woman who is pregnant i'd be t my child and literacy. as latinos, we should be talking about money and investment vehicles not onl looking at the traditional ways of building wealth like home in your 20's and 30's you've missed potentially decade or more investing in the marketplace. nobody talks about those things. we generational wealth available to everybody relatively poor people, for example, opening up a roth ira when you get your first job. ... re not only relying on the traditional ways of building wealth likehip because by the