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December 19 2013

The Power of Credit and Building Wealth through Homeownership Working Groups Show Need for More Education

ATLANTA – December 18, 2013 – The 2013 HOPE Global Financial Dignity Summit, continues to generate news as Operation HOPE today shared a few key results from the Working Groups sessions on The Power of Good Credit and Building Wealth through Homeownership, reporting that an “excellent” rating of 16.7% and 19.5%, respectively for participants overall experience.  Teaching kids how to handle money/credit at an early age, providing easier access to information and resources cited as key game changers to help individuals maneuver the complexities of homeownership and credit building.   

Lead by Trey Loughran President, Personal Information Solutions Equifax and Jan Rielaender Economist Organisation for Economic Co-operation and Development (OECD), The Power of Good Credit session explored the devastating housing crisis, homeownership as an essential driving force for Americans.

The work group lead by Secretary John Dalton President, Housing Policy Council The Financial Services Roundtable; Ed Jennings Southeast Regional Administrator U.S. Department of Housing and Urban Development (HUD) and Geri Thomas President, Georgia Market Bank of America examined ways for renters and housing businesses to take advantage of new opportunities in home ownership.

The findings from the sessions will provide a foundation for the final results report. HOPE plans to use recommendations to help create transformational change in underserved communities. The final results for the summit are set to be published first quarter of 2014 and will detail the recommendations and findings from the working groups and participants.

More than 1,300 delegates participated over the two-day event, attended by some of the most dynamic and influential financial industry professionals, government decision-makers and faith leaders from more than 25 states in the union, and 20 countries around the world. 

The HOPE Global Financial Dignity Summit was held in partnership with the City of Atlanta and was moderated by Soledad O’Brien. It explored the topic “Global Economic Recovery: How The Poor Can Help Save Capitalism,” and framed the issue of financial inclusion, small business, entrepreneurship, jobs, and financial dignity as essential core ingredients to mid and long-term economic recovery and stability, here and abroad.