March 13 2014
John Hope Bryant Joins President Obama’s Advisory Council on Financial Capability for Young Americans Inaugural Meeting
Operation HOPE founder continues Council work; focuses on youth financial capability, economic disaster preparedness and recovery, growing local financial literacy councils and Dr. King’s work to promote economic equality
WASHINGTON, DC – March 10, 2014 – Operation HOPE Founder, Chairman and CEO John Hope Bryant travelled to the U.S. Treasury Department today to attend the inaugural meeting of the President’s Advisory Council on Financial Capability for Young Americans (Council), where he highlighted past work and upcoming objectives. Bryant is one of two Council Members that have served for all three of the historic federal financial inclusion advisory council agencies. (Read Bryant’s thoughts on appointment).
Prior to the official meeting, Bryant met with Secretary Jacob Lew of the Department of Treasury in a private session to exchange ideas and thoughts around initiatives to help Americans understand their finances. Following, he took part in the private group Council photo session with the Secretary.
To begin the official meeting Secretary Lew gave opening remarks. He spoke to the importance of increasing opportunities for upward economic mobility in the U.S. through the promotion of financial capability among young Americans in schools, colleges, communities and the workplace.
He was followed by United States Secretary of Education Arne Duncan. Additional remarks were heard from U.S. Treasury Assistant Secretary for Financial Institutions Mokri Amir and the first Consumer Financial Protection Bureau Director Richard Cordray, each reinforcing the president’s mission to teach children about the positive and productive role of money in their lives.
Chaired by John W. Rogers, Jr. the Chairman, CEO and Chief Investment Office Ariel Investments, the ten attending council members also introduced themselves and spoke about their recent work to increase youth financial capability.
Bryant summed up his remarks by saying, "We need to reconnect education with aspiration. The past years have shown us that disaster can occur when citizens of our nation are financially illiterate and economically underpowered. The need for financial literacy for our youth is evident, but we must take it to another level,” Bryant continued. “By promoting financial literacy and inclusion initiatives, we can prepare young Americans for the long term understanding of unexpected life changes and challenges and help ensure financial well-being for them and future communities.”
The Council, established by Executive Order in June 2013, seeks to promote financial capability among young Americans and encourage building the financial capability of young people at an early stage in schools, families, communities, and the workplace. The multi-faceted Council provides understanding into innovations within the financial capability space; helps bridge public-private partnerships that drive youth financial empowerment and lastly, it produces Federal policy recommendations, which are delivered to the President, in a year-end report.
Operation HOPE staff members who play an important role in furthering HOPE’s government affairs and public policy issues, attended in support of Bryant’s Council work. They were: Chief Executive Officer, New York and Division President, HOPE Youth Empowerment Group Mary Hagerty Ehrsam; First Senior Vice President, Chief of Government Affairs and Public Policy Jena Roscoe; and Legislative and Public Policy Aide Lucas Turner-Owens.
Also in attendance were Council members:
José Cisneros, Treasurer of the City and County of San Francisco
Theodore J. Beck, President and CEO of the National Endowment for Financial Education (NEFE)
Sherry Salway Black, Director of the Partnership for Tribal Governance at the National Congress of American Indians
Anna Maria Chávez, CEO of Girl Scouts of the USA
Kerry N. Doi, President and CEO of the Pacific Asian Consortium in Employment
Ted Gonder, CEO of Moneythink
Richard G. Ketchum, Chairman and CEO of the Financial Industry Regulatory Authority (FINRA
Beth Kobliner, Journalist for The Huffington Post and www.Mint.com. (Representing)
Kilandigalu (Kay) M. Madati, Head of Entertainment & Media on the Global Marketing Solutions team at Facebook
Marc H. Morial, President and CEO of the National Urban League
Carol E. Quillen, President of Davidson College
Amy Rosen, President and CEO of the Network for Teaching Entrepreneurship
Charles W. Scharf, CEO and a Corporate Director of Visa Incorporate