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January 20 2012

Operation HOPE Founder Appointed Chairman of President Obama's Subcommittee for the Underserved & Community Empowerment

U.S. President's Advisory Council on Financial Capability forms new subcommittee to help further President Obama and the nation's broader agenda to reach and empower unbanked and underserved families and communities; small business, enterprise and entrepreneurship to also be a main focus.


Financial dignity empowerment nonprofit, Operation HOPE (HOPE) today announced that HOPE Founder, Chairman and CEO John Hope Bryant has been appointed chairman of the recently announced Subcommittee on the Underserved and Community Empowerment for the President’s Advisory Council on Financial Capability (“Council”).


The subcommittee reports to the full Council, which is chaired by business leader John Rogers, chairman of Ariel Capital Management.  Amy Rosen, CEO of NFTE, serves as Council Vice Chair.


The new council, previously called the Financial Access subcommittee, was chaired by Arty Arteaga, President and CEO of the Defense Credit Union Council. Arty led the subcommittee in its focus on recommending policy regarding issues related to access and savings, transactional products, financial literacy and local government leadership.

“I commend Arty for his leadership of the Financial Access subcommittee,” said Bryant, who also serves on the President's Advisory Council on Financial Capability. “Under his guidance, the subcommittee played a vital role in identifying innovative and practical solutions for addressing some of America’s most pressing economic challenges.”
Members of the new committee include: Arty Arteaga, Ted Beck, John Hope Bryant, Samuel Jackson, Ken Wade, and John Rogers (ex-officio).

As part of the President’s mandate to serve and empower the underserved, the subcommittee will maintain a full and robust agenda, led by a local financial literacy council plan of action with cities and states. Bryant’s relationships with nonprofits, district leaders in both public and private sectors will help facilitate the building of community networks.


Since founding Operation HOPE in 1992, Bryant has worked to put financial literacy and empowerment issues on the national agenda. He served as vice chair of the former President's Advisory Council on Financial Literacy and is the author of the business bestseller LOVE LEADERSHIP: The New Way to Lead in a Fear-Based World.


The Council was created by U.S. President Barack Obama in 2010, to assist the American people in understanding financial matters and making informed financial decisions, which ultimately contributes to financial stability. It is composed of non-governmental representatives with relevant backgrounds, such as financial services, consumer protection, financial access, and education.


Headquartered in Los Angeles, Operation HOPE promotes financial dignity through financial literacy and education tools to underserved communities in more than 200 cities worldwide. Through its three divisions and core portfolios, the organization has provided youth and adult financial literacy, economic preparedness, digital empowerment, promoted home ownership, and assisted with foreclosure prevention to more than 2 million individuals, families, and small business owners.


Operation HOPE has directed more than $1 billion in economic value in underserved communities since its founding in 1992.  In 2012, HOPE will celebrate two decades of making the free market system work for low-income communities in a Silver Rights Movement meant to eradicate poverty and build dignity.