HOPE Government Relations and Public Policy (GRPP) is a division of Operation HOPE that concentrates on developing, growing, and sustaining international, federal, state, and local government partnerships and alliances with Operation HOPE Programs and Initiatives. GRPP monitors, supports, and participates in international, federal, state, and local, public policy forums around financial literacy and supports the Office of the Chairman public policy campaigns around the “Language of Money.”
On January 29, 2010, President Obama signed Executive Order 13530, creating the President's Advisory Council on Financial Capability (PACFC) to assist the American people in understanding financial matters and making informed financial decisions, and thereby contribute to financial stability. It is composed of non-governmental representatives with relevant backgrounds, such as financial services, consumer protection, financial access, and education. The PACFC will suggest ways to coordinate and maximize the effectiveness of existing private and public sector efforts and identify new approaches to increase financial capability through financial education and financial access. The PACFC will collect information and views concerning financial capability from the Federal Government's 22 - member Financial Literacy and Education Commission (FLEC).
The role of the PACFC is to advise the President and the Secretary of the Treasury on means to promote and enhance individuals and families financial capability. Where appropriate, the PACFC will take into consideration the particular needs of traditionally underserved populations, such as youth, minorities, low- and moderate income Americans, immigrants, and low - literacy adults.
The PACFC Subcommittees are Strategy, Financial Access, Research, and Evaluation, Partnerships, and Youth. PACFC Member John Hope Bryant is a member of three subcommittees: Youth, Financial Access, and Partnerships. On the Youth Subcommittee, PACFC Member Bryant highlights the need for K-12 financial literacy. On the Financial Access Subcommittee, PACFC Member Bryant highlights the need to encourage and support innovate financial service products that assist the unbanked and underbanked invididual to have access to financial capital and grow wealth. On the Partnerships Subcommittee, PACFC Member Bryant encourages the creation of state and local municipality financial literacy councils and existing state/local financial literacy councils and the reccommends the creation of a Financial Literacy Volunteer Corps.
“To require financial literacy counseling for borrowers, and for other purposes”
Amends the Higher Education Act of 1965 to require institutions of higher education (IHEs) to provide at least four hours of financial literacy counseling to each student borrower: (1) under the Federal Family Education Loan (FFEL) program, at or prior to their receipt of such loan; and (2) under the FFEL, Direct Loan, or Perkins Loans programs, during their enrollment at the IHE or when their studies end. Requires such counseling to include information on: (1) banking; (2) budgeting; (3) credit cards and ratings; (4) loans, grants, education tax credits, and scholarships; (5) renting and housing; and (6) investing. Directs the Secretary of Health and Human Services to encourage IHEs to perform these duties using interactive programs that test each borrower's understanding of the financial literacy information they receive.
“Expressing the support of the House of Representatives for efforts to increase financial literacy in the United States and recognizing the work of John Hope Bryant to raise awareness about the importance of financial and economic literacy.”
Supports the efforts of the President's Advisory Council on Financial Literacy in working with the public and private sectors to: (1) increase financial education for youth in school and for adults in the workplace; (2) increase access to financial services; (3) establish measures of national financial literacy; (4) conduct research on financial knowledge; and (5) strengthen financial education programs. Recognizes John Hope Bryant for his efforts to raise awareness in the United States about the importance of financial and economic literacy.
We are honored to serve President Barack Obama, our 44th President of the United States, as a member of the President's Advisory Council on Financial Capability.
On January 22, 2008, standing alongside then-President George W. Bush, U.S. Treasury Secretary Hank Paulson, HUD Secretary Alphonso Jackson and U.S. Treasurer Anna Cabral, Operation HOPE Founder, Chairman and CEO John Hope Bryant was named Vice-Chairman of the newly created bi-partisan President’s Advisory Council on Financial Literacy.
“We have confidence in the long-term strength of America. And so should the American people. This is a flexible, this is a resilient, this is a dynamic economy, and the entrepreneurial spirit is high. We want people to own assets; we want people to be able to manage their assets. We want people to understand basic financial concepts, and how credit cards work and how credit scores affect you, how you can benefit from a savings account or a bank account. That’s what we want. And this group of citizens has taken the lead, and I appreciate it,” stated President Bush. The President announced that philanthropist Charles R. Schwab, chairman and CEO of the Charles Schwab Corporation, will serve as the Council’s Chairman and Mr. Bryant as vice-chairman, and that he was thankful for their leadership. Operating under the guidance of the U.S. Treasury Department with the specific charge of keeping America competitive and assisting citizens in understanding and addressing financial matters, the 19-member council will focus exclusively on economic empowerment issues. A literal who’s who of respected business, non-profit and faith-based industry leaders, the bi-partisan panel includes several distinguished individuals.