News (Noticias) for Banking

“This is a miracle,” said Maria Arias, a 41-year-old home health aide from Corona, Queens, who got more than $6,700 back as a result of a three-year investigation by the state attorney general’s office. “*

Former University of New Mexico President Louis Caldera, who taught corporate governance at the UNM School of Law last fall, is on the board of directors of a California bank seized by the federal government. “*

Banorte, Mexico’s fifth-largest banking group, is not for sale, its chief executive said, amid renewed speculation that the bank could become the target of a takeover.”*

After initially focusing on the Hispanic market in the U.S., Spain’s Banco Bilbao Vizcaya Argentaria SA is now preparing to go mainstream.

Spain’s second-largest financial company by market value after Banco Santander SA is developing an ambitious push into the Sun Belt region at a time when local rivals are retrenching after the collapse of the subprime-mortgage market.”*

Today, Vibra Bank announces the successful close of its Initial Public Offering and the Grand Opening of its headquarters in Chula Vista.

Just six months after announcing its IPO, and nearly 200 investors later, Vibra Bank has raised $14.8 million in capital. Well in excess of the minimum required to open, this capital reflects the strong support that exists for Vibra Bank’s concept of a bi-cultural community bank with a focus on serving businesses in Chula Vista, the South Bay and the entire San Diego region.

Vibra Bank will hold its Grand Opening on July 23, 2008, at its headquarters located at 530 Broadway in Chula Vista. Mayor Cheryl Cox and representatives from the Latino and South Bay business community will be on hand for a special ribbon cutting ceremony at 10 a.m., followed by food and festivities.

“This is an exciting day for Chula Vista,” said Mayor Cox. “Vibra Bank is a unique bi-cultural community bank that will be a great asset to the residents and businesses of Chula Vista. We’re thrilled to welcome them to the neighborhood.”

Howard B. Levenson, Vibra Bank Investor and Board Member agreed, noting the San Diego community has gone without a bi-cultural bank for over 20 years. “This has been a long time

coming - and the fact that they’ve been able to accomplish this under the current market conditions is a testament to the strength of this venture.”

“Vibra Bank is different from other banks because we’re able to offer our customers a personalized banking experience to meet their specific needs.” said Vibra Bank President and CEO Scott Parker. “We’re committed to providing our customers with first class service that changes the way they view the customer/banker relationship. We want them to succeed and we’ll do everything we can to help them move forward.”

Vibra Bank will offer customers a wide range of services to meet their needs, including online banking and remote deposit (www.vibrabank.com). In addition, Vibra Bank is expected to generate a full range of loan products, while focusing on loans to businesses and business owners.

Their commercial and industrial lending products will include both secured and unsecured credit lines, term credit for fixed asset purchases, letters of credit and loans that qualify under the SBA guaranty programs. Commercial real estate lending products will include loans on retail, industrial and office properties. Vibra Bank will also offer carefully selected construction financing. A variety of consumer financing products will also be available to customers.

Based upon an initial capital level of $14.8 million, the Bank’s lending limits can comfortably accommodate maximum credits to one borrower of approximately $3 million on a secured basis or $1.8 million on an unsecured basis. Loans which exceed the Bank’s legal lending limit may be extended if participation agreements are in place with Vibra’s correspondent banks or with other community banks in order to sell a portion of the loan and reduce the Bank’s exposure. Vibra Bank will not engage in subprime single-family residential lending.

Vibra Bank’s board includes notable names from the San Diego and Latino business and banking community, including Enrique Schon, Chairman of Vibra Bank’s board and Founder of Mexico’s Banco Mifel and President SARSAP, a major Tijuana commercial real estate development firm; former San Diego Police Chief David Bejarano; Howard B. Levenson, former Chairman and CEO of Western Financial Corporation/Co-Founder Southwest Community Bank; Jeffrey Davidow, President of the Institute of the Americas and former United States Ambassador to Venezuela and Mexico; Luis Maizel, Senior Managing Director and Co-Founder of LM Capital Management and LM Advisors, the second-largest Hispanic money management company in the United States; Max Freifeld, partner in Prediales Atenas S.A. de C.V., a real estate investment company, and partner, board member and consultant for Autos Orientales, S.A. de C.V., a Nissan automobile dealership in Mexico, and also Founder and former Director of Hipotecaria Nacional and Hipotecaria Vanguardia; Maru Davila, Chair of the Board and Chief Executive Officer of Corporacion de Telecommunications Regionales, a telecommunications company she founded in Mexico; and Gershon Jaffe, Certified Public Accountant and Chief Financial Officer of Jaffe Finance Company, LLC, which specializes in asset-based financing and leasing for professionals. “*

Solera National Bank, a wholly-owned subsidiary of Solera National Bancorp, Inc. (OTC Bulletin Board: SLRK), announced today that it has launched Solera DepositXpress, a Remote Deposit Capture service that enables commercial customers to scan checks at their desktops and electronically send check images and deposit information directly to the bank. The basic requirements to participate in the service include a personal computer, an internet connection and a check scanner. “*

Integrated marketing campaign includes new Priceless advertising and the re-launch of mastercardenespanol.com

Purchase, NY, July 8, 2008 – This month, MasterCard launched an integrated Hispanic marketing campaign featuring a 30-second Priceless television execution entitled, “Luchador.” Additionally, the brand re-launched mastercardenespanol.com, its Spanish language U.S. consumer website.

Luchador follows a Hispanic wrestler, leveraging the Mexican tradition of Lucha Libre wrestling, as he utilizes his credit and debit MasterCard cards to pay for beauty services that keep the retro icon’s style current. Luchador hit the airwaves across the country on Hispanic television in 11 key U.S. markets where there is the highest concentration of Hispanic consumers: Chicago; Dallas; Harlingen, Tex.; Houston; Los Angeles; Miami; New York; Phoenix; Sacramento; San Antonio; and San Francisco. The brand will also make use of radio and on-line advertising to extend the campaign across relevant channels.

Additionally, MasterCard revamped its website mastercardenespanol.com, improving its functionality and content to better appeal to Hispanic consumers. The new site offers a culturally-relevant online financial destination for U.S. Hispanics and provides information on MasterCard products and services. The site features information on why MasterCard is a better way to pay than cash; tips on building credit history and managing finances; as well as video content from media partner Univision.

“Hispanics comprise the fastest growing population in the U.S. and as a brand it is important for us to develop a genuine connection with them,” said Chris Jogis, Vice President, US Brand Development, MasterCard Worldwide. “According to MasterCard research, 75 percent of Hispanics say that cash is their preferred method of payment. We would like to provide Hispanics with information on the benefits of credit and debit MasterCard for their everyday purchases, from convenience and earning rewards to building credit scores and record keeping.”

In addition to the advertising, MasterCard will also be involved in a series of grassroots events which are in currently in development in several key cities.

Luchador consists of the following sequence of events:

The television spot opens with Luchador, guarded on each side by members of his entourage, ready for a haircut at a trendy salon.

Voice over: Modern new cut: $40 on your MasterCard card.

He moves to a massage chair and is ready for a pedicure

Voice over: Manicure and pedicure, quite popular these days: $55

Different parts of his body are then prepared for a body wax.

Voice over: Full body wax, the latest national trend: $95

He admires his “new look” in the mirror and leaves the salon flanked by his two supporters. However, in true Lucha Libre fashion, neither his new haircut nor his new look can be seen as Luchadors never reveal their face in public.

Voice over: Getting hip to the times: priceless

Creative for the MasterCard Priceless campaign is handled by McCann Erickson/New York: Joyce King Thomas, EVP, Chief Creative Officer; Tim Dillingham, SVP, Creative Director; Mark Gonzalez, Creative Director; Greg Lotus, SVP, Executive Producer.

About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com. “*

Many Hispanics were urged to buy homes during the real estate boom to achieve a new found independence. They wanted a taste of the American dream. Today, due to creative financing, second mortgages and rising interest rates, many Hispanics are close to having their homes taken away. The quest for the American dream has forced many Hispanics into debt due to loans that they were not fit to have. Many were given loans they were not qualified to receive due to a lack of credit history and/or inadequate monthly income. Many were sold adjustable rate mortgages with initial low interest ‘teaser’ rates which simply delayed the day of reckoning until the mortgage reset and full interest and principle payments were due. “*

A statement to the Spanish stock exchange regulator on behalf of a company called Blueprime said it had already signed a deal with one Popular investor, represented by Spanish investor Trinitario Casanova, to acquire a 3.5 percent stake for 14.20 euros per share.

“No other agreements have yet been signed, although agreement is close to being finalized with a number of other shareholders with whom we are in advanced negotiations,” the statement added.”*

Not only has the nation’s slumping economy hit black workers and Latino workers hard, the mortgage crisis has had a disproportionate impact on them as well. In fact, some experts fear the mortgage crisis could undo a huge portion of the wealth built up by the growing African American and Latino middle classes.

The Joint Center for Political and Economic Studies reports that the rate of subprime mortgages for Latinos and African Americans is about double the rate for whites. In 2006, subprimes made up one in four mortgages (26 percent) made to whites, 47 percent of those to Latinos and 53 percent of mortgages that went to African Americans. “*

Bank Freedom, a wholly owned subsidiary of Prepaid Card Holdings, Inc. (Pink Sheets:PPDC), today announced that it has launched a Spanish version website for its Bank Freedom Prepaid MasterCard® Card program.

Visitors can now go to www.bancolibertadtarjeta.com and order a Bank Freedom Prepaid MasterCard from a website entirely in Spanish. Bank Freedom has always had bilingual customer service agents and a bilingual website for its customers to access their prepaid card accounts. However, to help new Spanish-speaking customers better understand the benefits of the product they are ordering, the company is releasing this new card enrollment website.

Bank Freedom intends to air a radio campaign this month entirely in Spanish on several Spanish radio stations located in the Unites States. The company also plans to market its Bank Freedom Prepaid MasterCard through its established internet marketing network.

Bruce Berman, Founder and CEO of Bank Freedom, stated, “There is a great need for our product and until now we have not been able to directly reach the Spanish-speaking community in the United States. Our prepaid cards provide a much needed service with nominal costs. With a Bank Freedom Prepaid MasterCard card, a consumer can eliminate their reliance on check cashing services and money orders, and they are safer than cash and accepted worldwide.”

About Bank Freedom

Bank Freedom has recently entered the prepaid card industry with its Bank Freedom Prepaid MasterCard. The BankFreedom Prepaid MasterCard is issued by MetaBank pursuant to license by MasterCard International Incorporated. According to market data available, there are between 40 and 80 million people in the United States who don’t have a bank account or who can’t qualify for a credit card because their credit scores are too low. This is called the under-banked market. The emerging prepaid card solutions offered by Bank Freedom can act as a card account and payment solution for those people who do not use banks or credit cards. For the under-banked, the evolution taking place with prepaid cards can replace their reliance on check cashing centers, money orders, and the inability to buy certain products that require a major credit card.

For further information contact Ryan Guenthart at 877-237-6260 ext. 110 or visit the Company website at www.BankFreedom.com.

About Prepaid Card Holdings, Inc.

Prepaid Card Holdings, Inc. is a publicly traded holding company whose current holdings consist of a 100% interest in the Berman Marketing Group, Inc., a multi channel direct market firm specializing in direct response marketing through Television, Radio, Internet and Print media and Merchant Processing International Inc. DBA Bank Freedom.

For further information contact Ryan Guenthart at 877-237-6260 ext. 110 or visit the Company website at www.PrepaidHoldings.com.

About MetaBank

MetaBank is a federally-chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc.® is the bank holding company for MetaBank, MetaBank West Central, Meta Payment Systems®, and Meta Trust Company ®. The Meta Payment Systems division of MetaBank based in Sioux Falls, South Dakota, serves banks, processors, and third party marketers by providing prepaid cards, credit cards, ACH origination, merchant acquiring, ATM sponsorship, and money transfer. Meta Financial Group is traded on the NASDAQ – Global Market: CASH.

For more information visit www.metacash.com. “*

Solera National Bank will offer Countrywide Home Loans Inc. residential mortgage products and services in its Lakewood office, the two companies said today.”*

Angel Caballero’s experience in business administration may have helped get him a job with Venezuela’s Banesco bank, but it was his knowledge of Caracas’ poor barrios that the bank was really after.

The former steel industry worker manages $1.5 million of loans spread over 250 clients in some of the most impoverished areas of Caracas’ west side, helping Banesco tap into one of Venezuela’s fastest-growing lending markets.

“At first people were a little wary,” said Caballero, who was raised in the Caracas barrio of Magallanes de Catia. “But once the loan is approved, people feel they are being taken into account and they are very responsible about paying.”"*

Chase is using its new advertising campaign to reach out to Hispanic consumers with a straightforward message: “Chase. Juntos Se Puede” Chase. Together We Can.

The campaign builds on both Chase’s expanded capabilities to serve Latinos’ banking needs and its Chase What Matters campaign of focusing on what matters most to customers.

“Our commercials show how Chase can help in situations that Hispanic consumers have experienced both in the United States and in their home country,” said Rebeca Vargas, head of the multicultural segment at Chase. “We are also using traditional music in Spanish – including a cha-cha-cha — to deliver culturally relevant messages.”

The campaign, which began June 11, will raise Chase’s visibility as a partner “socio” for Latino consumers to provide consumers with the tools and guidance to better manager their money and achieve their financial goals

The nearly 45 million Latino community is the largest minority and fastest-growing group in the United States.

The two TV commercials use the same dramatic black-and-white approach as the broader Chase What Matters campaign, but the stories were developed specifically for Hispanics:

“Bodeguero” shows a frustrated young Latino who can’t make a purchase at a local bodega because he doesnt have the exact change. Chase shows how its debit card provides access to a customer’s money anytime and everywhere. The spot promotes a Chase checking account that is free when consumers make five debit card purchases in a statement period. The spot’s music is “El Bodeguero” by Orquesta Aragon.
“Letter” shows a Latino man opening a letter bearing bad news: He has overdrawn his bank account by overspending on gifts and dates with his girlfriend. At the end of the spot, he slyly uses his cellphone to check his bank account balance before entering a nice restaurant with his girlfriend. The music used in the spot is Nelson Ned’s “Me pasé de la cuenta” — “I spent more than I should have.”

“Our ‘Letter’ commercial uses humor to show consumers how easy it is to use Chase’s mobile banking to help manage their money,” Vargas said. “It’s relevant to talk to Latinos about this service because they or someone they know may have experienced overdrafts.”

The campaign also includes three radio commercials – focusing on the following topics:

Mobile banking, which also allows customers to request alerts about activity in their accounts;
Free checking with debit card usage, and
Chase as the partner “socio” that is ready to help Latinos to better manage their finances.

This new advertising campaign leverages recent improvements Chase has made for Latino consumers:

The introduction of account-opening documents in Spanish for those customers who select Spanish as their language of preference. Half of all Latinos prefer to discuss their finances in Spanish.
The creation of Rapid Cash, a free money remittance service that allows Chase consumers to send money to Mexico from their Chase checking accounts. In 2007, Mexicans in the United States sent an estimated $23 billion to Mexico.

“We want to become the financial institution of choice for Latinos at all stages of their lives,” Vargas said. “We want consumers to see Chase as the bank that they can trust and with whom they can partner to achieve their financial goals for themselves and their families”

Chase worked with Lapiz Leo Burnett, one of the largest advertising agencies in the United States, to create the TV and radio ads. Log onto www.chase.com/espanol/comerciales to view the ads.”*

The National Council of La Raza (NCLR), Raza Development Fund (RDF), Wachovia and The Wachovia Foundation today announced a five-year, $16.25 million partnership focused on economic development for the Latino community in the U.S.

The partnership will include:

• $5 million in grants over five years from The Wachovia Foundation for:
• Post-purchase homeownership counseling through NCLR’s Homeownership Network.
• Capacity building.
• Strengthening the NCLR Affiliate Network.
• Raza Development Fund’s community development efforts.

$1.25 million over five years from Wachovia to sponsor key NCLR events, including:

• National Annual Conference.
• Annual ALMA Awards®, which celebrate the outstanding artistic achievements of Latinos in motion pictures, television and music and are televised nationally.
• Annual Capital Awards, which recognize members of Congress for their outstanding support of public policies that are vital to Hispanic Americans.

· A $10 million loan to fund growth in Raza Development Fund’s lending activities, including property acquisition, community facility and charter school construction and affordable housing predevelopment and construction.

“Wachovia’s investment in NCLR will allow us to expand the successful programs we have developed with our nearly 300 community-based affiliates who every day strengthen America by promoting the advancement of Latino communities,” said Janet Murguía, President and CEO of NCLR. “Together with these organizations, NCLR has helped put hundreds of thousands of Latino children and families on the path to achieving the American dream, and we are honored that Wachovia shares our vision to build stronger communities.”

“We make loans to nonprofits to build community schools, health clinics and other community facilities — loans that commercial lenders often find too risky,” added Mark Van Brunt, Executive Director and Chief Operating Officer of the Raza Development Fund, NCLR’s lending arm. “With Wachovia’s support, we can expand our ability to make these critical investments in our community while at the same time ensuring that the deals are sound. We welcome the support and look forward to a long, mutually productive relationship.”

NCLR is the largest national Hispanic civil rights and advocacy organization in the U.S.

The Latino population is the fastest-growing minority population in the U.S. It is projected that Latinos will account for more than one in four U.S. residents by 2050.

“For 40 years, NCLR has been a vital support network for thousands of Latino families across the country,” said Mike Rizer, director of Community Relations for Wachovia and Executive Vice President of The Wachovia Foundation. “Through this partnership, Wachovia and The Wachovia Foundation will help NCLR become an even bigger force for positive change across the country —building more charter schools, preparing more families for success in homeownership, providing greater and more robust support services.”

In addition to its partnership with NCLR, The Wachovia Foundation has established national philanthropic partnerships with the Hispanic Association of Colleges and Universities and the Hispanic Scholarship Fund to provide college scholarships for young Latinos.

Last year, The Wachovia Foundation joined with the MacArthur Foundation to create a $47 million award program for community development. The first recipient of the $5.5 million “Wachovia NEXT Award for Opportunity Finance” was the Latino Community Credit Union based in Durham, N.C.

Wachovia partners with local Hispanic organizations to deliver financial literacy training in English and Spanish and offers seminars to Latino-owned small businesses.

In addition, Wachovia:

• Is the only major financial institution to offer statements in Spanish for all of its deposit accounts.
• Has nearly 800 designated Hispanic financial centers throughout the U.S. capable of delivering a full in-language customer experience, including bilingual Spanish-speaking employees, bilingual merchandising and financial product information in Spanish.
• Offers Spanish-language personal assistance seven days a week through a multilingual call centers and at hundreds of bilingual ATMs.
• Offers a Spanish-language Web site, www.wachovia.com/espanol, which allows customers to open new accounts, locate the nearest financial center or ATM and look up information in Spanish.

.”*

A Banco Popular Espanol SA spokesman said the bank ‘is not aware’ of any bid interest from a group of Mexican investors.

According to Negocio, which cited unamed sources close to the deal, the investors have hired the services of HSBC (nyse: HBC - news - people ) as an investment advisor for a possible bid at between 14 and 14.5 euros per share”*

Fiserv Inc. is now offering CheckFreePay walk-in bill payment for Nuestro Banco, allowing unbanked consumers to pay more than 1,000 bills and at the bank.

Raleigh, N.C.-based Nuestro Banco is a de novo financial institution with a business plan, it says, dedicated to serving Hispanic users.”*