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January 25 2012

President’s Advisory Council on Financial Capability Helps Americans Achieve Financial Security

Pledge from National Council of Black Mayors helps create a network of local financial literacy councils

Washington, DC –During the January 19th meeting of the President’s Advisory Council on Financial Capability (Council), the Subcommittee on the Underserved and Community Empowerment announced a commitment from the National Conference of Black Mayors (NCBM) to encourage its 700 mayors to create local financial literacy councils.

In an official letter provided by NCBM President, Mayor Robert L. Bowser, and Executive Director Vanessa Williams, the organization outlined its pledge to engage local municipalities in establishing financial literacy councils throughout the country.

To date, the following local municipalities have submitted an official letter stating the intent to create a financial literacy council:  Fulton County, Georgia; City Of Miami, FL; City Of Newark, NJ; Detroit, MI.  Currently, there are local Financial Literacy Councils in the State Of Wisconsin; State Of Florida; State Of North Carolina; State Of Maryland; State of Pennsylvania and the District of Columbia.
Focused on creating opportunities for low-wealth neighborhoods, the Subcommittee on the Underserved and Community Empowerment is chaired by John Hope Bryant, the founder, chairman and CEO of Operation HOPE. The subcommittee works closely with the Partnership Subcommittee, chaired by Carrie Schwab-Pomerantz, president of the Charles Schwab Foundation, to research and report practices and innovations for improving financial capability.
Under the leadership of Chair John W. Rogers of Ariel Investments and Vice Chair Amy Rosen of NFTE, the President’s Advisory Council on Financial Capability is another part of the Obama Administration’s efforts to help assist individuals and families in better understanding financial matters and making informed financial decisions.
About Operation HOPE (HOPE)
Since 1992, nonprofit Operation HOPE has grown to become the global leader in financial dignity, providing financial literacy and empowerment services to underserved communities worldwide.  Through its four principle portfolios: Banking on Our Future, HOPE Coalition America, HOPE Financial Dignity & Literacy Empowerment Centers, and HOPE Corps, the organization addresses youth and adult financial literacy, economic preparedness, bridges the digital divide and promotes home ownership, assists with credit management and foreclosure prevention. With the support of more than 400 private sector companies, 5000 nonprofit organizations and schools and government partners, HOPE has reached over 2 million low-wealth individuals in 273 U.S. cities and South Africa. At the core of HOPE’s mission is a Silver Rights Movement, ensuring that free enterprise and capitalism work to provide a better future for underserved communities around the world. To learn more about HOPE, visit our blog or follow us on Facebook Twitter and Youtube