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January 01 2010

Operation HOPE Founder John Hope Bryant Participates in Congressional Reception for Financial Services Roundtable

Capitol Hill function to focus on landmark agreement between Operation HOPE and
the coalition of the America’s 100 most powerful banks

WASHINGTON, DC – March 16, 2010 – “Silver rights” entrepreneur and Operation HOPE (HOPE) Founder, Chairman and CEO John Hope Bryant participated in an event focused on bringing the landmark financial industry agreement between Operation HOPE and the Financial Services Roundtable (FSR) to the attention of Congress as they announce the results from the Roundtable’s Community service efforts in 2009. The event, held on Capitol Hill, received the support of Congresswoman Dr. Diane E. Watson along with several influential financial industry companies and nonprofits including NeighborWorks® America, Habitat for Humanity and Jump$tart Coalition.

Steve Bartlett, FSR President and CEO reported that through the support of 300,000 Roundtable member company employees 9.4 million Americans were helped in the past year. Of these organizations, more than 25% of them were focused in the area of financial literacy, a figure which underlines the seriousness the economic crisis has had on the country.

“Public service is both our responsibility and an integral part of our companies’ business models” said Bartlett. “As evidenced by this tremendous year, we work hard to serve the communities in which we live and work.”

“In light of the economic crisis, the need for financial literacy and “silver rights” is greater than ever,” said Bryant, who also served as vice chairman of the President’s Advisory Council on Financial Literacy. “The results of this partnership reflect the power of teamwork and what can be accomplished with a common goal.”

“Having a free market system where underserved communities and low-wealth individuals don’t have access to capital is a highly sophisticated form of slavery. It’s an American issue, it’s a global issue and it’s a human rights issue.” Bryant continued, “working with the FSR to bring about meaningful strides in making financial literacy a priority is a powerful step forward for HOPE’s Silver Rights Movement.”

The joint Framework agreement signed in June 2009 between HOPE and the FSR demonstrates the financial services industry’s commitment to financial literacy and outlines ten Partnership Principles. The principles center around promoting financial literacy through 1) National and Global Efforts 2) Consumer Protection 3) Retirement Security 4) Volunteer Commitment 5) Starting Early 6) Higher Education 7) Broad Incorporation of Non-profit Partners 8) Internet Support 9) Legislative Support and 10) Working Together.

The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO.

Roundtable member companies provide fuel for America's economic engine, accounting directly for $85.2 trillion in managed assets, $980 billion in revenue and 2.3 million jobs. For more on the FSR 2009 results visit http://www.fsround.org/media/htm10/millions_americans_helped_through_cs09.html