the young people whomunities should have every right as the rest of us do. by saying, we definitely have more work to do to end child labor in this country. to ensure that every worker gets pay for a hard days work. to make sure every worker goes me safe. and to make sure all of our communities have access to good jobs that change their lives bring hope, and build up their communities. imise to you is we are all in. president biden is all in. thank you for all you do, and let's continue to do this work together. thank you so much. [applause] >> and from the same event now illinoismendoza moderates a s. this is about 40 minutes. thank you for all you do and let's continue to do this work together. thank you so much.

>> from the same event now illinois comptroller moderating a discussion on for economic growth in mobility and latino c about 40 minutes. >> i want to start by saying good morning and thank you to everyone that made it to today's breakfast. i have to say that i know it is the final day but even if it were not if this was the second day of the conference, we would still have a thinner crowd because of that party that they had last night. i am truly impressed that anyone is in the room. i am very thankful that so many people are in the room today forthis breakfast. [applause] do they know how to throw a party or what. i am going to say a very big round of applause to all of you for having the fortitude to make i want to also say that the man

of our our thank you. for the last 30 applause. am illinois state controller. as you heard in 2016 i became the fir hispanic independently elected to serve in a statewide capacity in the ste of. [applause] thank you. i have been elected threeimes now and i am proud to say that even though comptroller known title and all of government existence i was top vote getter in the state of illinois in the last election in 2022. [applause] prior to serving as comptroller i was elected as woman ever to serve as city clerk in the city of chicago and before that elected to six terms as a state representative in the illinois general assembly serving as the youngest member of the chamber when ele 2001. as the state's chief financial officer, itas h and privilege to have successfully navigated our state through the two worst fiscal

crises in our state's history. number one aat lasted 736 days. brutal 16.7 billion with a b $16.7 billion of unpaid bills. a rainy day fund=: $48,000. there was more money than that spent yesterday on booze alone at the party. today, thankfully we no longer backlog. we have a working accounts payable. paying our bills faster than ever in the state ofll my job to do. we have a rainy day fund of over $2 billion and i am proud to say also that that bill was paid down before a penny of stimulus funds came in the door. while our state had suffered nothing but credit downgrades for the 20 years before he served as owner and controller silected on my watch we have now had nine full credit rating upgrades.

we are on a roll in the state of i will be truthfulf our state just a few short years ago. they thought we could never in vegas i must say never ever bet against the state of illinois. we are a great state with an ever-growing pool of latino representation. illinois has an amazing group of talented legislators in this congress. a tto these illinois legislators for working so hard and making us so proud. i am truly thankful to our man here for extending this invitation for me to moderate this morning session. strengthening the foundations for latino economic growth. the aim for today's discussion is to explore the current and future state of latina economic growth and influence while identifying policies and strategies that policymakers can support in advance to increase our communities economic

mobility and prosperity. according to a rec report from the latina donor collaborative, u.s. output,omic output reached 3.2 trillion in 2021. the same study indicates that latinos if they were an independent country the world. ahead of the united kingdom india and france. at the same time, however most major polls indicate that the economy and the rising cost of living top the list of our concerns. now, during this session will explore the current and future state of latinoc growth and influence while identifying policies and strategies that policymakers can support in advance to increase our communities economic mobility and prosperity. i hope you find this interesting and helpful to you. let me just say that we have an incred panel with us today. experience

with us this morning our to my left in this order ms. anna á use]

ty juárez, the head of hispanic and latino affairs at wells fargo. here is something fun about patty. you should all know this. was just 10 years old she was a child actor. i know, right. yes. she was a child claim to fame was playing the devil at the age of 10. yes. proud mama. her daughter is very smart and has all kinds of college offers. but, really the nuns were very worried about her at the age of 10 when s devil so well. she can do it, ask her let's talklfred to his partner and. what you should know about alfred is that he is a recovering addict. i know. you should clap. he is a recovering addict.

not everybody wants to talk is recovering addict of art. yes.. he says especially tough for him so he needs our support. i have a file before he gomething in vegas to bring home with him. ladies and gentlemen they all have incredibly impressive resumes. you can find their complete bios in the app. i will ask each of them to themselves starting with anna andhetty and then of course alfred. then we will dive into the questions after that. thank you for being here, everyone. [applause] >> thank you so much for fun acts. thank you everybody for beire. as it has been said it was a really wild night for everybody as it seems. my name is anna i'm the ceo of the latino donor collaborative. we are a thing take that shows the economic in the united states. those numbers that you mentioned come from u would love

to share through this mexico city. [applause] i left mexico to do a masters in spain. i worked with united nations at the white house with the clinton administration and then i l 25 years. very excited to be here. thank you thank you for putting this incredible event every year and for making such a big difference [applause] >> thank you. >> i am a friend of anna's. [laughter] good morning. yes, it was a late night. me. my parents are in town so we stayed out pretty late with my 77-year-old dad and 75-year-old mom, which was fun. patty warez. then with wells fargoor short 29 and a half years. i know. i started as a baby teller.

[laughter] f hispanic and latino affairs at wells fargo. that is my most recent position. took over as that last july. i am inharge o outcomes. our outcomes in the hispanic community as well as some of our representation outcomes with our colleagues within the company. i have a multifaceted job. it is fascinating. it is great. i would do for free but don't tell my boss because i have to do -- put a kid through college. i need a paycheck. i love what i do. it enables me to support my community and try to make a difference as access to capital remains the number one concern for entrepreneurs in our community as well. it is great being here and thank you for having me. thank you arturo. >> goo. it is really a pleasure to be with you this morning. it is true.

i am a crazy advent collector of art. i am passionate about representation in every industry especially in arts and culture. i joke with my staff at the office he had occasionally they are like, alfred, when are you moving this. what is going on with this andnd will it be hung? jessica, don't worry about. this piece is in i have not told my husband and i purchased this piece of art. when i tell them, home. the organization that i found it is basedut of los angeles. we work with large and small organizations that our mission driven. e sustainable more brazilian cities throughout the country i would like to say we operate at the city section of city justice. we do our work as experts in the law in planning and design and

architecture and labor r and advocacy. all towards a common goal of working creatively introduce new ideas and new models of development that we hope to create greater economic prosperity for our communities especially our latino communities. we do it through a data driven approach. i am really honored to speak to all today about the status of the potential for economic empowerment among latinos. in our office, in los angeles and san francisco we are currently involved in the construction permitting and development over 6000 housing units in california. we represent -- thank you. [applause] we representan o that currently are investing over to billion dollars in land development in california and throughout the country. i mentioned tha approach our work through data and the experience that we have

around both the opportuniti challenges we are seeing in the marketplace and creating greater economic opportunity for latinos. thank you very much. >> big round of applause for panelists, please. [applause] we will start with questions now i will go straight to miss anna valdes. with the upcoming seven edition of the latino donor collaborative report mind what is the importance of the report as it pertains to economies within states. emerging markets and overall economic well-being indicators for latinos in >> thank you. that is a great question. we are actually coming up in september with the seventh latino gdp report. first of all we a excited. i have to thank our par have funded this report the very beginning. the whole table to avoid names. of course, going through names this incredible

effort. we are very excited. this report i cannot say numbers yet, but we are recruiting a number of things. my favorite one is the report about young people. this young people we are doing a lot of different them. >> do you mean like 50s? >> you areactly. thirty-four down. it is a complete different cohos. the people that are parents in this group would understand me. they think different. they are wired differently. in general and alphas are wired differently. latinos specifically have this combination of the parents that build the fifth largestconomy in the world. 90% were born here. they are going to college because their par sacrificed

everything to send them to college but they still have all of this work ethic this passion this ambition. more importantly gratitude you know i have so much to share about this we do a lot of social media and social media analysis. we have noticed this time around graduation time they are just so proud of themselves and they should. they are veryic. social media look what i can. latino kids actually turn around to their parents and give them their diploma and their hat did everything and say thank you because you made it. [applause] that same emotion you feel, i had a kid that graduated in may. that same emotion you feel. they wear it on their sleeves. they are in this world to make the sacrifices of their parentst. another thing they are very different from us, they have a.

they have an opinion and they raise it. it shows in the power of dreamers it shows in the power of, you know, the box office with young people and how they are deciding to watch when they are well represented. are doing a report specifically above grants in colgate and univision. we are finding this. just to tell you there is soch to come in september with this reported others. you will be really happy to see it. i am very proud your kids. >> we are looking forward to it. thank you. the ways that the sector has responded toth of the latino community across the country and how is your help the latino community with financial services? what are those lessons you think that have been learned along the way? >> well, i think when we establish my role at the bank last july i think that it was a

direct response in a very intentional step to honor the latino community because it has become such an important part of ou. when you look at how many checking accounts are open, you know last quarter over 40% of those are being opened by latinos. you can see the power that our community has in terms ofmbers. it is such an important constituency for us. they said we need a senior leader at wells fargo whose only job is to worry about serving latinos in the right way at our institutions. a lot of the time that i looking at, you know beginning you know, when you are entering college and you have your first checking account planning for retirement how does the bank serve this what are the products that they need. what are the services that they need. do we have them? do we need to develop? do we need to enhance a line of products that we have to better

fit the needs of the younger community which is coming in strong because there very digitally friendly and savvy? they no longero walk through this. they have to do everything online. a those changes it is my responsibility to ensure that the bank is looking at that beyondringing for us? i think that for wells fargo my position is the only one in the major banks that intentionally look at our businesses as well as the community as well as the colleagues right i you have to represent your community and your staff. you have to represent the we have a ways to go. banking, traditionally oriented not hispanic. weav h successful in bringing in new talent from all industries because we are over 200,000 members strong. we need people and technology

has much as banking and other areas of bank. what we are doing is we are bringing in, 20% of ourin latinos. we are already the largest minority group within wells fargo. ou incoming workforce looks very much latino. if you look at the growthprojections and how many people are graduating college to take those higher earning jobs latinos are the number one cohort we are very, very excited to provide a platform for people to come and work for us. another concern that i have is how do we retain them? how do we give them experiences that they will cherish and like and, you know, take their talented really help firm deliver on our commitment to this community. we have to represent this market so we are that the senior leadership levels of the company were also >> that is great. patty, first of all a big shout out to wells fargo for identifying talent and promoting

it because it is important.use] we all serve in a role model capacity. here is a fact. when women are in charge of the money, things get done better. fact. it is really important for represented and think about in the stem cell, the stem a and science is engineering if little girls don't see themselves reflected in the spaces they don't think that is a path for them. same thing in finance. a male dominated environ. having women that r how to handle things and have proven themselves in that capacity. whether it i a the private sector. that is what little girls need country. the fact that they are latinos even on to you. describe when homeownership became a gateway to economic prosperity for families in the united states. >> absolutely. happy to talk about it. i think that the coffee is kicking in. i will speak. our work is really data driven

it is informed by the information that is ava that we have here with the latino collaborative and other federal and state agencies. what we realize is that we contend with the historic injustice that is embedded in our economic syste tedot

wz.