102 New Local Financial Literacy Councils Announced at White House Summit on Financial Capability

More than 100 US Mayors have agreed to form local financial literacy councils for their cities, announced the National Council of Black Mayors today during the White House Summit on Financial Capability and Empowerment.

For a complete list of participating mayors, click here.

“As a direct action based on the work of the Subcommittee on the Underserved and Community Empowerment, the National Conference Of Black Mayors (NCBM) have encouraged 83 U.S. Mayors associated with the NCBM to form a local financial literacy council,” NCBM Executive Director and Operation HOPE Board Member Vanessa R. Williams said. “The U.S. city mayors from NCBM membership are committed to bolstering the capability of Americans to make sound financial decisions.”

The NCBM developed a strategic partnership with the Advisory Council’s Subcommittee for the Underserved and Community Empowerment, chaired by Operation HOPE Founder, Chairman and CEO John Bryant.

The new subcommittee offers NCBM member municipalities assistance in creating local Financial Literacy Council, serving as a local one-stop-shops for financial dignity, financial capability and empowerment–for youth, consumers and businesses. The strategic partnership offers engagements in a variety of areas ranging from school districts, workforce development, and access to credit, technical assistance and more.

Due to the underlying benefits of the Council the Subcommittee worked diligently with the NCBM office to insure that its mayors and their communities participated in this national effort to establish local municipal Financial Literacy Councils that focuses solely on cities’ economic promise, growth and opportunity.

Bryant joined Williams at the White House Financial Capability and Empowerment Summit today to bring attention to one of the most important issues facing the country today – restoring economic security for all Americans.

Focused on educating Americans for a healthy and stable economy, the summit highlighted the critical role that community leaders and local governments play in helping people improve their financial capability. As Chair of the Subcommittee Bryant plays a key role in promoting initiatives that improve the opportunities for educating the public around financial empowerment issues. One such initiative is the drive to encourage cities across the country to establish Financial Literacy Councils that focus on empowering low and moderate income citizens.

A global nonprofit, dedicated to financial dignity, Operation HOPE promotes self-respect and self-sufficiency through financial literacy and education tools to underserved communities in more than 273 cities worldwide. Through its four 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. This year, HOPE celebrates 20 years of making the free market system work for low-income communities in a Silver Rights Movement meant to help make free enterprise and capitalism work for the poor and undeserved.

The U.S. President’s Advisory Council on Financial Capability is chaired by businessman John Rogers, and Amy Rosen, CEO of the National Foundation for Teaching Entrepreneurship (NFTE), serves as vice chair. The President’s Advisory Council on Financial Capability is leading a nationwide effort to promote local Councils to spearhead financial capability initiatives nationwide. 

The President’s Advisory Council on Financial Capability is leading a nationwide effort to promote local Councils to spearhead financial capability initiatives nationwide. For a complete list of financial empowerment programs announced by the White House today, click here.

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