Mexican Bank Jumps Border...

[Neese]

http://news.ncmonline.com/news/view_art ... 65de6c8ee0

Nicely played Mexico...nicely played.



Mexican Bank Jumps U.S. Border
Frontera NorteSur, Posted: Dec 05, 2006

SAN DIEGO – With the approval of the U.S. government, a Mexican bank is buying the Texas-based Inter National Bank (INB), reports Frontera NorteSur, an online news service produced by New Mexico State University. Prior to this, it was common for foreign investors to buy up Mexican banks; they now control about 90 percent of their stock. Many Mexican banks are prospering with investors garnering a 20 percent rate of return. Now Banorte, controlled by a Mexican businessman, will use McAllen, Texas as a base to expand into the United States. To attract customers, the bank will offer free transfer of remittances to Mexico. The bank expects to make money through binational mortgages, helping both U.S. and Mexican residents purchase homes in each other’s countries.

[crazybird]

Nice

[Neese]

Smart marketing and a brilliant strategy to get more people into the US. Banks are very picky about "CRA" and you are not allowed to discriminate, so I am sure that they will be catering to the incoming illegals.