Acosta later recalled that her mother, who also raised chickens to sell their eggs, "was the type of woman who taught us how to live in any place and work with what we have."

She called her mother as a resourceful businesswoman who presented a strong role model for what a woman could do economically with very little.

Most accounts say that Acosta arrived in Los Angeles, California, with her children, unable to speak English and with seven dollars to her name.

In 1963, looking for ways to help local struggling Latinos, Acosta and some businessmen founded the Pan-American National Bank in East Los Angeles, California.

Acosta also believed that if Latinos could increase their financial base, they would have more political influence and be able to improve their standard of living.

In 1969 Acosta was appointed chairperson of the bank's board of directors and received the city's Outstanding Business Woman of the Year Award.

With bank assets already in the millions and deposits climbing rapidly, Pan-American National's success caught the attention of the Richard Nixon's administration.

The president was seeking to repay the Republican National Hispanic Assembly, which had played a strong role in his election.

During the nomination process, Acosta was taken aback by a sudden raid on her tortilla factory by U.S. Immigration Service agents.

The agents, contrary to their usual methods, reportedly carried out a loud, disruptive raid through the facility, attracting a lot of press attention.

[citation needed] However, Nixon sided with her and called the raid politically motivated, charging the Democratic Party with instigating it.

Her daughter Ramona said of Acosta's performance, "My mother's legacy is that she ran the place as a business, not just as another wing of the government."

Acosta Bañuelos remained CEO at Pan-American National and president of Ramona's, running both businesses from her Los Angeles home.

Pan-American National Bank is credited with helping troubled East Los Angeles develop a sense of community and make economic gains in business.