Key Findings

• Despite representing one of the fastest-growing economic forces in the United States, Latino households hold only 19 cents in wealth for every dollar held by white households, even as the U.S. Latino economy reached $4.4 trillion in 2024, making it the equivalent of the world’s fourth-largest economy if measured independently.
• Latino consumers are among the most active users of digital financial tools, yet high levels of fintech participation have not translated into equitable wealth accumulation. More than nine in ten Latino consumers report using some form of fintech product or service. 
• Latino respondents report higher use of non-bank fintech products than non-Latino respondents, driven largely by buy now, pay later (BNPL) use — 22% of Latino respondents compared to 14% of non-Latino respondents — reflecting greater household liquidity pressure rather than discretionary spending.
• For most Latino consumers, fintech functions as a tool for managing financial instability rather than building wealth. Lower-income Latinos primarily use digital tools to smooth cash flow, avoid overdraft fees, cover emergencies, and navigate gaps between income and expenses.
• Latino respondents prioritize financial stability above all else: 46% identify emergency savings as a primary goal, 40% prioritize paying down debt, and 29% prioritize improving credit, yet only 35% feel on track toward their long-term financial goals, compared to 45% of non-Latino respondents.
• Expanding Latino access to digital financial products is not enough. Policymakers, regulators, and industry leaders must ensure that fintech engagement creates durable pathways to savings, homeownership, and asset accumulation, not simply better tools for navigating financial hardship one transaction at a time.

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