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January 01 2009

First Global Financial Literacy Summit Announced by Operation HOPE

Federal Reserve Chairman Ben Bernanke, FDIC Chair Sheila Bair and Civil Rights Icon Ambassador Andrew Young to Deliver Keynote Addresses

WASHINGTON--(May 21, 2009)--Operation HOPE (HOPE), America's leading nonprofit social investment banking and financial literacy empowerment organization, announces today the first Global Financial Literacy Summit to be held at the Town Hall Education Arts & Recreation Campus (THEARC) in Southeast Washington, D.C. on June 17, 2009. Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair will headline as business leaders from around the world explore the importance of financial literacy as the fuel that drives sustainable and healthy consumer confidence in an unstable global economy.

The summit is being launched in response to the global economic crisis, the highest U.S. unemployment rate in 25 years (8.9 percent), a record low housing construction rate, down 12.8 percent, and a loss of consumer and market confidence due to deteriorating personal finances.

“We are hosting the Global Financial Literacy Summit because we find ourselves in the midst of a global economic crisis. For the sake of our shared future global security, stability and growth, we should empower everyone with 'silver rights' -- financial literacy, or what we at Operation HOPE call 'the language of money,'” said John Hope Bryant, Founder, Chairman and CEO, HOPE, who also serves as Vice Chairman of the President’s Advisory Council on Financial Literacy. “The Summit will make a strong business case around the importance and enormous potential of a world rooted in financial literacy. Understanding 'the language of money' is far from a math class; it is contextual, psychological, aspirational, cross-sections with issues of self-esteem and self-worth, and is impacted by one’s culture and environment.”

In addition to Federal Reserve Chairman Ben Bernanke and FDIC Chair Sheila Bair, participants will hear from political, financial, business and community leaders through several plenary sessions scheduled throughout the day.

This is Operation HOPE’s second event at THEARC. On May 3, 2006, Operation HOPE hosted its first Anacostia Economic Summit at THEARC which featured then World Bank President Paul Wolfowitz, Federal Reserve Chairman Ben Bernanke and then Mayor Anthony Williams. This first summit focused on inner-city and under-served communities as emerging markets in America, and coincided with the opening of Operation HOPE’s first HOPE Banking Center serving the Washington, D.C.-Anacostia community.

What:
    Global Financial Literacy Summit: 
  Making a Business Case for Financial Literacy, Post Crisis 
    
Who:
  Ben Bernanke, U.S. Federal Reserve Chairman 
  Sheila Bair, Chairman of the U.S. Federal Deposit Insurance Corporation (FDIC) 
  Ambassador Andrew Young, HOPE National Spokesman 
  John Hope Bryant, Founder, Chairman and Chief Executive Officer, Operation HOPE 
  45 speakers representing 6 continents
 
    
When:
  June 17, 2009 
    
Where:
  THEARC 
  1901 Mississippi Avenue, SE 
  Washington, DC 20020