In the 50s there was Latin, as in the Latin Lover meme. In the 60s came Chicano(a), then Hispanic, now Latino (group or male / Latina - female) (the ending a vs. o is pretty universal in Spanish to denote feminine) Similarly convoluted journey to African-American, and Oriental morphed to Asian we'll skip the other variations. AFAIK, no one in any group was ever polled or asked to vote on a name so who knows who decides these things or why the fashion changes.

"Democracy is a pathetic belief in the collective wisdom of individual ignorance." - H. L. Mencken